Sysco closes $967.4 million share sale to help pay for Jetro Restaurant Depot deal
The company says it will use the proceeds toward the cash portion of its pending acquisition of JRD Unico, Inc. and Warehouse Realty, LLC
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Sysco has closed a public offering of 12,345,679 shares of common stock at $81.00 per share, generating net proceeds of about $967.4 million. The offering closed on September 16, 2026.
The company says it expects to use the proceeds to pay part of the cash consideration for its pending acquisition of JRD Unico, Inc. and Warehouse Realty, LLC, along with related fees and expenses.
Sysco announced plans for the $1 billion share offering on Monday. That followed the company's plan to raise $21 billion in debt and hybrid securities to fund its acquisition of Jetro Restaurant Depot.
The closed offering completes one leg of the financing Sysco laid out alongside the deal, which included a target of cutting net leverage by roughly 1.0x within two years. Funding part of the cash consideration with equity rather than added debt eases balance sheet risk tied to the acquisition, a modestly bullish signal, though the benefit is partly offset by the dilution from the new shares.