Sysco To Merge With US Foods In Deal Worth $8.2 Billion
by: Andrew Schneider, December 9, 2013 11:12:00 am
Bill DeLaney, Sysco president and CEO, will lead the combined company. DeLaney addressed the merger in a conference call with investors this morning.
“We expect the transaction to close in the third quarter of Calendar Year 2014. Upon finalizing the merger, we will move forward as one company with annual sales of approximately $65 billion dollars.”
The new company will retain the Sysco name and remain headquartered in Houston.