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Edelman Smithfield handles Sysco as the world's largest food-away-from-home distributor acquires Foxcroft Strategy Group client Jetro Restaurant Depot, which serves delis and mom & pop operations, in a deal valued at $29B.
Jetro runs 166 large-format warehouse stores across 35 states that serve more than 725,000 independent restaurants and foodservice operators with a broad assortment of fresh and low-priced products.
Sysco CEO Kevin Hourican sees an opportunity to create a preeminent multi-channel foodservice distribution platform.
The combined company will “enhance value for small independent restaurants and the consumers they serve by expanding access to more affordable, fresh food products and delivering more choice and convenience,” according to Hourican.
He sees “a long runway of opening new Jetro Restaurant Depot warehouses, bringing the industry leader in affordability to hundreds of new communities and creating thousands of new jobs.”
Jetro generated approximately $16 billion in 2025 revenue, approximately $2.1 billion in EBITDA, and approximately $1.9 billion in free cash flow.
Sysco, which is based in Houston, chalked up $81.4B in revenues last year. It promises to keep Jetro’s headquarters in Whitestone, Queens, and its workforce intact.
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oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
