US Foods Buys Renzi Foodservice, Looks To Expand Reach Across Upstate New York

US Foods Holdings Corp USFD has agreed to acquire Renzi Foodservice, a broadline distributor based in Watertown, New York.

  • The acquisition is the first for the company since 2020, and the first one under CEO Dave Flitman's leadership.
  • The deal will allow US Foods to further expand its reach into central upstate New York, the place where it does not have a distribution center yet.
  • Renzi Foodservice has more than $180 million in annual revenue.
  • Renzi serves more than 2,300 independent restaurants, healthcare facilities, schools, government organizations, and convenience stores.
  • The acquisition is expected to be closed in the third-quarter of 2023. The financial details of the seal were not disclosed.
  • US foods held $292 million in cash and equivalents as of April 1.

Price Action: USFD shares are trading lower by 1.43% at $40.60 on the last check Friday.

 

 

 

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: M&ANewsTop StoriesGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!