capital · May 20, 2026
Sysco Announces $29.1 Billion Acquisition of Jetro Restaurant Depot
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Sysco and Jetro Restaurant Depot announced a definitive agreement on March 30, 2026, under which Sysco will acquire Jetro Restaurant Depot for $21.6 billion in cash and 91.5 million Sysco shares, implying a total enterprise value of approximately $29.1 billion or 14.6 times Jetro's operating income. Jetro Restaurant Depot operates 166 large-format warehouse stores across 35 states and generated $16 billion in revenue, $2.1 billion in EBITDA, and $1.9 billion in free cash flow in 2025. The transaction is expected to close in the third quarter of Sysco's fiscal 2027, subject to regulatory approvals, and will combine the companies into a $100 billion revenue entity with $6.4 billion in adjusted EBITDA. Sysco plans to open more than 125 new Jetro Restaurant Depot locations and create thousands of new jobs.