Sysco and Jetro Restaurant Depot have entered into a definitive agreement under which Sysco will acquire Jetro Restaurant Depot in a transformative transaction that allows Sysco to enter the high-margin, growing and resilient Cash & Carry channel. Under the terms of the agreement, the total value of the deal is approximately $29.1 billion.

Upon closing of the transaction, Jetro Restaurant Depot will operate as a standalone business segment within Sysco. Jetro Restaurant Depot’s leadership team is expected to remain in place under Richard Kirschner, who will report to Hourican. In addition, two of Jetro Restaurant Depot’s current directors, Sir Bradley Fried and Stanley Fleishman, will join the Sysco board of directors as the companies move forward together. The companies do not anticipate workforce reductions as a result of the transaction.

Jetro Restaurant Depot is a leading U.S. wholesale Cash & Carry foodservice provider serving smaller, independent restaurants and businesses seeking high-quality food at low prices. Jetro Restaurant Depot’s customer group is complementary to Sysco’s higher-volume customers seeking delivery and white glove service. A purpose-built one-stop-shop model for chefs and restaurant owners, Jetro Restaurant Depot operates 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. For calendar year 2025, Jetro Restaurant Depot generated approximately $16 billion in revenue, approximately $2.1 billion in EBITDA and approximately $1.9 billion in free cash flow, and has maintained a 30-year track record of EBITDA growth.

The Cash & Carry channel is a $60-70 billion addressable market and is the primary source of supply for many smaller independent restaurants and foodservice operators, providing them everyday low prices, seven days a week, with on-demand access to a full selection of fresh, ambient and frozen foodservice products, and a convenient in-store shopping experience. Cash & Carry is a growing channel that benefits across economic cycles.

“We’re thrilled to combine two industry leaders to create a preeminent multi-channel foodservice distribution platform,” said Kevin Hourican, chair of the board and CEO of Sysco. “Together, Sysco and Jetro Restaurant Depot 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. Jetro Restaurant Depot will benefit from access to Sysco’s best-in-class foodservice supply chain and logistics capabilities and Sysco will benefit from new ways to serve local customers. 

"The combined company will have increased purchasing efficiencies, enabling lower prices for more customers," said Hourican. "Even more importantly, we see 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. This will allow us to create significant value for our company, our customers, and our shareholders."