Simpson Thacher Represents US Foods in its Sale to Sysco
12.09.13
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The Firm is representing USF Holding Corp., a portfolio company of Clayton, Dubilier & Rice and KKR, in connection with the acquisition of USF by Sysco Corporation. Sysco will pay approximately $3.5 billion for the equity of USF, consisting of $3 billion in Sysco common stock and $500 million in cash. Including the assumption of approximately $4.7 billion in USF’s debt, the transaction is valued at $8.2 billion. Upon consummation of the transaction, Clayton, Dubilier & Rice and KKR will own a stake of roughly 13 percent in the combined company.
The Simpson Thacher team includes Marni Lerner, Jakob Rendtorff, Isaac Gruber and Gabriela Botifoll (M&A); Joe Tringali, Evan Cohen and Will Pilon (Antitrust); Alina Finkelshteyn and Brittany McCants (ECEB); Nancy Mehlman, Jacqueline Barbera and Michael Cardella (Tax); Joe Kaufman (Capital Markets); Mike Isby (Environmental); and Marcela Robledo (IP).