The acquisition significantly expands Sysco's presence in the high-margin cash & carry channel. While the deal is accretive, traders should monitor regulatory approval progress and integration risks. The pause in share repurchases may temporarily affect shareholder returns, but long-term free cash flow generation is expected to improve substantially.
Price Chart
Executive Summary
Sysco is acquiring Restaurant Depot (Jetro Restaurant Depot) in a $29.1 billion deal to enter the high-margin cash & carry channel. The transaction is expected to be accretive to EPS and free cash flow, with $250 million in annualized cost synergies. The deal is subject to regulatory approval and expected to close by Q3 FY2027.
Key Financial Metrics
Key Facts
- Sysco is acquiring Restaurant Depot for $29.1 billion in cash and stock
- Deal implies 14.6x multiple on Restaurant Depot's adjusted operating income
- Expected to be mid to high single-digit accretive to EPS in year 1, low to mid-teens in year 2
- Projected $250 million in annualized net cost synergies within 3 years
- Transaction expected to close by Q3 of Sysco's fiscal 2027
- Sysco will pause share repurchases to focus on deleveraging post-acquisition
Financial Impact
$29.1 billion transaction value with $250 million in annual cost synergies
Risk Factors
- Regulatory approval delays or conditions
- Integration challenges between the two businesses
- Execution risk on achieving projected $250M synergies
- Increased leverage from $21B debt financing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0000950142-26-000900 |
| Document: eh260758401_ex9901.htm | 0000950142-26-000900 |
| Document: eh260758401_425.htm | 0000950142-26-000900 |
| Document: 0000950142-26-000900-index-headers.html | 0000950142-26-000900 |
| Document: 0000950142-26-000900-index.html | 0000950142-26-000900 |
| Document: 0000950142-26-000900.txt | 0000950142-26-000900 |
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 17d 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
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