Two rival food service firms announced plans to merge Monday, a $8.2 billion deal creating one of the largest such businesses in the industry.
Sysco Corporation will acquire US Foods to create a company headed by Sysco CEO Bill DeLaney, reports say. The new firm will have a reported annual revenue of about $65 billion.
The deal includes Sysco’s acquisition of US Foods debt, currently standing at about $4.7 billion.
The parties said they expect to close the deal in the third quarter of next year, though the merger remains subject to regulatory approval.
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