The acquisition is a transformative move that significantly expands Sysco's market reach into the high-growth, high-margin cash-and-carry channel with minimal customer overlap. The deal is financially compelling with immediate EPS accretion and substantial synergies, but investors should monitor the integration process and regulatory approval timeline. The pause in share repurchases to manage leverage post-closing is a temporary headwind to shareholder returns.
Price Chart
Executive Summary
Sysco is acquiring Jetro Restaurant Depot (Restaurant Depot) in a $29.1 billion all-cash and stock deal to enter the high-margin, resilient cash-and-carry wholesale channel. The transaction is expected to be immediately accretive to EPS, with $250 million in annualized cost synergies from procurement and supply chain efficiencies. The deal is subject to regulatory approval and is expected to close by Q3 FY2027.
Key Financial Metrics
Key Facts
- Sysco is acquiring Jetro Restaurant Depot (Restaurant Depot) for $29.1 billion in cash and stock.
- The deal is expected to be accretive to EPS, with mid-to-high single-digit accretion in year one and low-to-mid teens in year two.
- The transaction will create a combined company with 20% higher revenue, 45% higher EBITDA, and 55% higher free cash flow on a pro forma basis.
- Synergies of $250 million annually are expected within three years, primarily from procurement and supply chain efficiencies.
- The deal is subject to regulatory approval and is expected to close by Q3 FY2027.
Financial Impact
$29.1 billion transaction value, $250 million in annualized synergies
Risk Factors
- Regulatory approval could be delayed or come with conditions.
- Integration risks, though management plans for a light-touch integration with separate business units.
- Pause in share repurchase program to manage post-acquisition leverage.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (SYY) — Batch item 1 | 0000950142-26-000923 |
| Document: eh260758379_ex1001.htm | 0000950142-26-000925 |
| 425 Filing (SYY) — Batch item 3 | 0000950142-26-000925 |
| 425 Filing (SYY) — Batch item 4 | 0000950142-26-000924 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 16d ago | 424B5 | $78.71 $77.14 | ▼ −1.99% | ▼ −4.56% | $77.49 (−1.55%) |
Sep 15, 2026 17d ago | Press Release | $79.60 $78.67 | ▲ +1.17% | ▲ +3.28% | $77.49 (+2.65%) |
Sep 14, 2026 18d ago | 8-K | $79.60 $78.67 | ▼ −1.17% | ▼ −3.28% | $77.49 (−2.65%) |
Sep 9, 2026 23d ago | 8-K | $81.57 $78.71 | ▼ −3.51% | ▼ −2.85% | $77.49 (−5.00%) |
Sep 9, 2026 23d ago | 8-K | $81.57 $78.71 | ▼ −3.51% | ▼ −2.85% | $77.49 (−5.00%) |
Aug 20, 2026 6w ago | Press Release | $84.10 $81.94 | ▼ −2.57% | ▼ −3.04% | $77.49 (−7.86%) |
Aug 20, 2026 6w ago | 8-K | $83.06 $82.45 | ▼ −0.73% | ▼ −1.85% | $77.49 (−6.71%) |
Aug 12, 2026 7w ago | 425 / 8-K | $84.69 $82.41 | ▼ −2.70% | ▼ −2.25% | $77.49 (−8.50%) |
Aug 4, 2026 8w ago | 8-K | $82.79 $84.26 | ▲ +1.78% | ▲ +1.88% | $77.49 (−6.40%) |
Jul 14, 2026 11w ago | Press Release | $82.85 $80.78 | ▼ −2.50% | ▼ −1.20% | $77.49 (−6.47%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access