Sysco Offers to Sell 11 Distribution Centers to Close US Foods Deal
SEAFOODNEWS.COM [Dow Jones & Company, Inc] By Angela Chen - February 2, 2015
Sysco Corp. offered Monday to sell 11 distribution centers to rival Performance Food Group Co. in hopes of ending the Federal Trade Commission’s probe of its pending $3.5 billion acquisition of rival US Foods Inc.
The US Foods distribution centers that are subject to the agreement have combined annual revenue of $4.6 billion and make up nearly a quarter of US Foods’ sales. Financial terms of the sale weren’t disclosed.
The announcement is further evidence of the close scrutiny the Federal Trade Commission has given the...
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