Sysco drops on $29 billion deal for Jetro Restaurant Depot

Sysco

30/03/2026 15:11

Updates

** Shares of food distributor Sysco SYY.N down as much as ~14% at $81.80

** Stock set for its worst day since 2020, if losses hold

** Co to buy catering supplier Jetro Restaurant Depot in a $29  billion deal, including debt

** Under the deal, Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares

** Co to fund the deal through $21 billion of new and hybrid debt, along with $1 billion of cash and equity on hand

** SYY reaffirms its annual sales growth in the range of 3% to 5% and adjusted EPS to be at the high end of $4.50 to $4.60

** As of last close, stock down 3.6% YTD

 (Reporting by Koyena Das from Bengaluru)

 ((Koyena.das@thomsonreuters.com))