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StocksHigh ImpactUpdated×6•Originally published 30 March 2026•Updated 30 March 2026•

1 min read

Sysco to Acquire Restaurant Depot for $29 Billion in Major Wholesale Expansion

Stylized image of a Sysco distribution center with trucks, conveyor belts, and a Restaurant Depot store, with pallets of produce and boxes.

Key Facts

1Sysco announced a $29 billion deal to acquire Restaurant Depot.

2 months ago

Version History

11 additional sources confirmed this story

Version 62 months ago

What changed: The story was updated to include the Sysco CEO's media appearance to defend the deal's strategic value and his description of Restaurant Depot as a 'gem of an asset.'

Version 52 months ago

What changed: Added market context regarding the $400 billion valuation of the U.S. foodservice distribution industry.

Version 42 months ago

What changed: The update notes that Sysco's stock is under pressure as investors weigh the $29 billion price tag against potential integration risks.

Version 32 months ago

What changed: The update clarifies the funding structure of the $29 billion acquisition, involving a 16% equity stake for the sellers, and provides a specific timeline for earnings-per-share accretion by fiscal 2027.

Version 22 months ago

Version 12 months ago

What changed: Updated to clarify that the $29 billion value includes debt, identified Restaurant Depot as a private company, added the 14x operating income valuation multiple, and noted the expected timing of the official announcement.

Sysco Corporation has announced a definitive agreement to acquire Restaurant Depot LLC in a deal valued at $29 billion. Following the announcement, CEO Kevin Hourican appeared on CNBC's 'Squawk Box' to defend the strategic value of the merger, characterizing Jetro Restaurant Depot as a "gem of an asset." During the interview, the CEO discussed the company's positive growth outlook following the integration of these new assets into the $400 billion U.S. foodservice distribution market. Despite leadership's optimism, Sysco's stock (SYY) remains under downward pressure as investors weigh significant integration risks and the substantial debt involved. The acquisition is designed to expand Sysco's footprint in the high-margin cash-and-carry segment to boost earnings by fiscal 2027. Analysts are closely monitoring whether this public relations effort can alleviate market concerns regarding operational complexities.