Billionaire Kirsh to Sell Restaurant Depot for $29 Billion.

The article focuses on Sysco Corp.'s acquisition of Jetro Restaurant Depot LLC, a wholesale food distributor founded by billionaire Nathan "Natie" Kirsh, for $29.1 billion including debt. The deal will create one of the largest food-service groups in the US, with Jetro shareholders receiving $21.6 billion in cash and 91.5 million Sysco shares, representing about 16% ownership post-transaction. Jetro operates 166 warehouse stores serving 725,000 smaller restaurant owners and generated approximately $16 billion in revenue last year, while Sysco plans to fund the acquisition primarily through new debt and will maintain Jetro as a standalone business segment. The acquisition aims to expand Sysco’s presence in the higher-margin cash-and-carry market, although some investors expressed concerns about the high purchase multiple and increased leverage. [Extracted from the article]