US Foods acquires Smart Foodservice Warehouse Stores for US$970m

USA – American food company and food distributor service, US Foods Holding has completed the acquisition of Smart Foodservice Warehouse Stores for US$970 million in an all cash transaction. The transaction, which was announced in March this year, excludes the Smart & Final retail grocery business – a business that was previously separated from Smart Foodservice. Founded in 1955 and headquartered in the greater Portland, Oregon area, Smart Foodservice operates 70 small-format cash and carry stores in seven US states and employs approximately 900 associates. The company serves small and…

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KKR makes US$500m equity investment in US Foods Holding Corp

USA – Global investment firm, KKR – through its affiliates – has announced a US$500 million equity investment in American food company and a leading foodservice distributor, US Foods Holding Corp. The investment was made through purchase of newly issued convertible preferred stock in US$28 billion foodservice company. KKR said that it will be funding the investment primarily through its KKR Americas XII Fund. According to a statement issued by the food company KKR’s US$500m convertible preferred stock investment carries a 7% dividend. On an as-converted basis, the preferred stock…

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US Foods to buy Services Group of America’s Food Group of Companies for US$1.8b

USA – Food distribution company US Foods Holding Corp, has reported that it would buy Services Group of America’s Food Group of Companies for $1.8 billion in cash. With 12 distribution centers and more than 20 private brands, SGA’s Food had 2017 net sales of US$3.2 billion from its five operating units – Food Services of America Inc (FSA), Systems Services of America Inc, Amerifresh Inc, Ameristar Meats Inc and GAMPAC Express Inc. US Foods said it expected to achieve about US$55 million in annual run-rate cost savings by the…

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