Rosemont Illinois based US Foods has agreed to be taken over by Sysco, the largest non-gracery wholesale food distributor in the United States. KKR and the other PE firm will get $500 million in cash, assumption of the existing debt and a bit over $2 billion in Sysco stock.<\/p>\n
Why would anyone here care? You probably don’t \ud83d\ude09<\/p>\n
This unexpected announcement either means I won’t be working in 2014 and resume having no income, or I’ll be so busy that you won’t see me until 2015. My guess is that I’ll be spending less and less time thinking about my year in Chicago.<\/p>\n
My inside source says the CEO told the employees the company was no longer viable and they had no real choice but to be taken over. You have to wonder if they are scared about Obamacare. They were already in difficulty trying to do all the new food safety regulation stuff.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rosemont Illinois based US Foods has agreed to be taken over by Sysco, the largest non-gracery wholesale food distributor in the United States. KKR and the other PE firm will get $500 million in cash, assumption of the existing debt … Continue reading