Simpson Thacher represented the underwriters, J.P. Morgan and Morgan Stanley, in connection with a registered public offering by investment funds associated with Clayton, Dubilier & Rice, LLC and Kohlberg Kravis Roberts & Co. L.P. (the "Selling Stockholders") of 40,000,000 shares of US Foods Holding Corp. (“US Foods”) common stock. A total of approximately $1.1 billion in proceeds before expenses was raised in the offering. The Selling Stockholders received all the proceeds from the offering.
US Foods is a leading foodservice distributor, serving approximately 250,000 chefs, restaurants and foodservice operators across the country. With nearly 25,000 employees and more than 60 distribution centers, US Foods provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. US Foods is headquartered in Rosemont, Ill., and generates approximately $23 billion in annual revenue.
The Simpson Thacher team for this transaction included Joseph Kaufman, Matthew Levy, Taylor Steele and Ashleigh Taylor (Capital Markets); David Rubinsky and Monisha Bhayana (Executive Compensation and Employee Benefits); Nancy Mehlman and Jacqueline Clinton (Tax); Lori Lesser and Linda Nyberg (IP); Jennie Getsin (FINRA & Blue Sky); Tim Mulvihill (Environmental); and Steve DeLott (Insurance).