US Foods Buys Renzi Foodservice, Looks To Expand Reach Across Upstate New York

US Foods Holdings Corp USFD has agreed to acquire Renzi Foodservice, a broadline distributor based in Watertown, New York.

• The acquisition is the first for the company since 2020, and the first one under CEO Dave Flitman's leadership.
• The deal will allow US Foods to further expand its reach into central upstate New York, the place where it does not have a distribution center yet.
• Renzi Foodservice has more than $180 million in annual revenue.
• Renzi serves more than 2,300 independent restaurants, healthcare facilities, schools, government organizations, and convenience stores.
• The acquisition is expected to be closed in the third-quarter of 2023. The financial details of the seal were not disclosed.
• US foods held $292 million in cash and equivalents as of April 1.

Price Action: USFD shares are trading lower by 1.43% at $40.60 on the last check Friday.