USFD - US Foods lands Renzi Foodservice in deal that adds New York distribution capabilities
2023-05-19 09:56:19 ET
US Foods Holding Corp. ( NYSE: USFD ) struck a deal on Friday to acquire Renzi Foodservice for an undisclosed amount.
The acquisition is the first for the company since April of 2020 and the first under CEO Dave Flitman.
The pickup of the New York-based broadline distributor is expected to allow US Foods ( USFD ) to further expand its reach into central upstate New York where the company does not have a distribution center.
Renzi Foodservice has more than $180M in annual revenue and serves more than 2,300 independent restaurants, healthcare facilities, schools, government organizations, convenience stores and other customers.
Pending regulatory approval, the acquisition is expected to close in the third quarter of this year.
Shares of USFD rose 0.99% in early trading on Friday and are up more than 20% on year-to-date basis.
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US Foods lands Renzi Foodservice in deal that adds New York distribution capabilities