Simpson Thacher represented the underwriters, led by joint bookrunning managers Goldman, Sachs & Co., Morgan Stanley and J.P. Morgan, in connection with the initial public offering by US Foods of 51,111,111 shares of its common stock, which raised approximately $1.2 billion in gross proceeds. US Foods’ common stock began trading on the New York Stock Exchange under the ticker symbol “USFD” on May 26, 2016.
US Foods is a large foodservice distributor serving chefs and foodservice operators across the country. Its customers include independent and multi-unit restaurants, healthcare and hospitality entities, government and educational institutions. The company, which is headquartered in Rosemont, Ill., employs approximately 25,000 people and has 62 distribution centers nationwide.
The Simpson Thacher team for this transaction included Joseph Kaufman, Matthew Levy, Katharine Thompson, Jun Won Kim, Mark Viera and Cameron Williamson (Capital Markets); David Rubinsky, Alina Grinman and Monisha Bhayana (Executive Compensation and Employee Benefits); Nancy Mehlman and Jacqueline Clinton (Tax); Marcela Robledo (IP); Jennie Getsin (FINRA & Blue Sky); Mike Isby and Tim Mulvihill (Environmental); Makiko Harunari (Credit); and Steve DeLott (Insurance). Summer Associate Kate Wheelock also provided valuable assistance.