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US Foods

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US Foods Holding Corp.
Company typePublic
IndustryFood industry
FoundedAugust 1, 1989; 36 years ago (1989-08-01)
Headquarters
Rosemont, Illinois
,
U.S.
Area served
Continental U.S.
Key people
David E. Flitman (CEO)
Dirk J. Locascio (CFO)
ProductsPrepackaged meals and frozen foods, fresh produce
ServicesFoodservice distributor
RevenueIncrease US$37.877 billion (2024)
Increase US$1.099 billion (2024)
Decrease US$494 million (2024)
Total assetsIncrease US$13.436 billion (2024)
Total equityDecrease US$4.528 billion (2024)
Number of employees
30,000 (2024)
Websitewww.usfoods.com
Footnotes / references
[1]

US Foods Holding Corp. (formerly known as U.S. Food service) is an American food service distributor. It is the second-largest food service distributor in the U.S., after Sysco. The company supplies 250,000 locations including independent restaurants, chain restaurants, healthcare, hospitality, and educational institutions.[1]

In 2024, 34% of revenues came from meats and seafoods, 17% of revenues came from dry grocery products, 17% of revenue came from refrigerated and frozen grocery products, 11% of revenues came from dairy, 9% of revenues came from supplies, 6% of revenues came from produce, and 6% of revenues came from beverages.[1]

The company is ranked 122nd on the Fortune 500[2] and 1127th on the Forbes Global 2000.[3]

History

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Early history

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The company traces its roots to John Sexton & Company, founded in 1883. It was one of the first food distributors to develop a national sales force and distribution network, first with a horse and wagon, and after 1924, with a diesel truck fleet.[4]

In 1968, John Sexton & Co. was purchased by Beatrice Foods for $37.5 million.[5]

In the 1970s, the Pearce-Young-Angel Company (PYA) merged with Monarch Foods, then owned by Consolidated Foods Corporation (the precursor of Sara Lee).[4]

In 1983, S.E. Rykoff merged with Sexton to become Rykoff-Sexton.[4][6][7]

In the late 1980s, Sara Lee completed the corporate spin-off of its northeastern and mid-Atlantic portions of the company to management in a leveraged buyout, forming JP Foodservice.[4][8]

In 1996, JP Foodservice acquired the remaining portion of PYA/Monarch.[4]

In 1992, United Signature Foods Inc. was created. United Signature Foods Inc. After a series of mergers and buyouts between Rykoff-Sexton and US Foodservice and finally JP Foodservice, the company became a nationwide distributor.[4]

1990s

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In November 1994, the company adopted the name JP Foodservice, Inc. and became a public company via an initial public offering. Sara Lee Corporation then held 37% of JP common stock. The public offering raised $80 million, and JP restructured and paid off much of its debt.[9][10]

Toward the end of 1995, the company and its former parent, Sara Lee Corporation, began talks about exchanging PYA/Monarch, Sara Lee's southeastern foodservice subsidiary, for JP stock worth about $946 million.[8] Yet, the two companies failed to reach agreement on several factors, including valuation (JP's stock price had gone up in expectation of the merger), structure, and dilution of earnings to existing shareholders, and the deal fell through in February 1996. The experience left both sides bitter, and JP was expected to find a way to reduce Sara Lee's presence or end its investment in the company all together.[9]

In late 1996, Sara Lee sold its remaining stake in JP Foodservice.[11]

In February 2000, U.S. Foodservice acquired Stock Yards Packing.[12]

In April 2000, Ahold acquired US Foodservice for $3.6 billion.[13]

In December 2000, U.S. Foodservice acquired PYA/Monarch for $1.57 billion.[14]

In 2007, Clayton, Dubilier & Rice and Kohlberg Kravis Roberts acquired the company for $7.1 billion.[15]

2010s - present

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In August 2010, John A. Lederer was appointed president and chief executive officer.[16][17]

In September 2011, U.S. Foodservice announced its name change to US Foods, Inc. (styled as "US. Foods" in the new logo unveiled at the same time).[18][19]

In December 2013, Sysco agreed to acquire US Foods for $8.2 billion but the merger was terminated in 2015 after failure to get regulatory approval due to antitrust concerns.[20][21][22]

In May 2016, after the merger with Sysco was terminated, the company once again became a public company via an initial public offering.[23]

In November 2022, Dave Flitman was named chief executive officer of the company.[24]

Acquisitions

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# Year Company Description Ref(s).
1 October 2010 Nino's Wholesale Italian foods distributor to pizzerias, fine Italian restaurants, and gourmet shops in South Florida [25]
2 February 2011 Midway Produce Produce distributor in central Indiana [26]
3 April 2011 WVO Industries Waste vegetable oil processor [27]
4 April 2011 Ritter Food Service Specialty distributor of poultry, meats and seafood [28]
5 May 2011 Great Western Meats Foodservice distributor and provider of fresh-cut portion meats in Central Florida [29]
6 June 2011 White Apron's Distribution Business Supplier and processor of premium fresh meats based in Brea, Calif [30]
7 July 2011 Vesuvio Foods Italian foods for pizzerias, fine Italian restaurants and gourmet shops in metro New York [31]
8 June 2012 New City Packing Supplier of steaks and fresh-cut portion meats to restaurants [32]
9 October 2013 Quandt's Foodservice Foodservice distributor in Eastern New York and portions of Western New England [33]
10 December 2015 Dierks Waukesha Regional distributor in Wisconsin [34]
11 February 2016 Carra Donna Wholesale distributor serving New England [35]
12 May 2016 Freshway Foods Produce supplier; sold in 2025 [36][37]
13 October 2016 Jeraci Foods Distributor of specialty Italian foods based in Elmsford, New York [38]
14 October 2016 Save On Seafood Processor and distributor in St. Petersburg, Florida [39]
15 February 2017 All American Foods Distributor in Rhode Island, Massachusetts and Connecticut [40]
16 April 2017 FirstClass Foods Meat manufacturing company based in Hawthorne, California [41]
17 June 2017 F. Christiana Distributor in Louisiana, Southern Mississippi and Southern Alabama [42]
18 July 2017 TOBA Inc. distribution companies Distributor in seven states in the Midwestern United States [43]
19 January 2018 SRA Foods Meat processor and distributor in Birmingham, Alabama [44]
20 September 2019 SGA Food Group Price was $1.8 billion [45]
21 March 2020 Smart Foodservice Warehouse Stores (now US Foods Chef'Store) Price was $970 million [46]
22 May 2023 Renzi Foodservice Distributor in central upstate New York [47]
23 November 2023 Saladino's Foodservice Broadline distributor in California [48]
24 February 2024 IWC Food Service Broadline distributor based in Cookeville, Tennessee [49]

References

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  1. ^ a b c "US Foods Holding Corp. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 19, 2025.
  2. ^ "Fortune 500: US Foods". Fortune.
  3. ^ "Forbes: US Foods". Forbes.
  4. ^ a b c d e f "History" (PDF). US Foods.
  5. ^ Gazel, Neil (1990). Beatrice: From Buildup to Breakup. University of Illinois Press.
  6. ^ "Beatrice to Sell John Sexton Unit". The New York Times. Associated Press. September 28, 1983.
  7. ^ "Rykoff-Sexton Match Pays Off But L.A. Firm's Smaller Acquisitions Less Successful". Los Angeles Times. December 23, 1985.
  8. ^ a b Faiola, Anthony (December 2, 1995). "JP FOODSERVICE IN TALKS TO MERGE WITH SARA LEE UNIT". The Washington Post.
  9. ^ a b "JP Foodservice Rejects Deal With Sarah Lee". The New York Times. Bloomberg News. February 20, 1996.
  10. ^ Hancock, Jay (November 22, 1994). "JP Foodservice recapitalizes, issues stock". The Baltimore Sun.
  11. ^ "SARA LEE MAY BE COOKING UP SALE". Chicago Tribune. October 1, 1996.
  12. ^ "U.S. Foodservice buys Stock Yards Packing Co..." The Baltimore Sun. February 28, 2000.
  13. ^ Hedgpeth, Dana (March 7, 2000). "Royal Ahold to Acquire U.S. Foodservice of Md". The Washington Post.
  14. ^ "Ahold U.S. Foodservice completes acquisition of PYA/Monarch" (Press release). GlobeNewswire. December 5, 2000.
  15. ^ "Ahold sells U.S. unit to 2 firms for $7.1 billion". The New York Times. May 2, 2007.
  16. ^ "John Lederer named c.e.o. of U.S. Foodservice". Meat Poultry. August 13, 2010.
  17. ^ "John Lederer, President and CEO of US Foods, Elected to Walgreens Boots Alliance Board of Directors" (Press release). Walgreens Boots Alliance. 2015.
  18. ^ Yue, Lorene (September 26, 2011). "U.S. Foodservice changes name to U.S. Foods". Crain Communications.
  19. ^ "Form S4". U.S. Securities and Exchange Commission. December 28, 2012.
  20. ^ "Sysco to buy US Foods for $8.2 bln including debt". Reuters. December 9, 2013. Archived from the original on 2015-09-24.
  21. ^ "Sysco Cancels $8.2 Billion US Foods Takeover In Big Antitrust Win For FTC". Forbes. June 29, 2015.
  22. ^ "Sysco Terminates Merger Agreement with US Foods" (Press release). GlobeNewswire. June 29, 2015.
  23. ^ Hirsch, Lauren (May 26, 2016). "US Foods raises $1 billion in year's second largest IPO". Reuters.
  24. ^ Sophia, Deborah (November 28, 2022). Ganguli, Shinjini (ed.). "US Foods names Flitman CEO". Reuters.
  25. ^ "US Foodservice acquires Nino's Wholesale operations". Fleet Owner. October 28, 2010.
  26. ^ "US Foodservice acquires Midway Produce". Fleet Owner. February 23, 2011.
  27. ^ "US Foodservice acquires WVO waste vegetable oil operation". Fleet Owner. April 12, 2011.
  28. ^ "U.S. Foodservice Acquires Ritter Food Service, Leading Supplier of Premium Poultry, Meat and Seafood" (Press release). GlobeNewswire. April 18, 2011.
  29. ^ "U.S. Foodservice Acquires Great Western Meats, Inc" (Press release). GlobeNewswire. May 23, 2011.
  30. ^ "U.S. Foodservice Acquires White Apron's Distribution Business" (Press release). GlobeNewswire. June 2, 2011.
  31. ^ "U.S. Foodservice Acquires Vesuvio Foods, Leading Distributor to Metro NY Italian Restaurants" (Press release). GlobeNewswire. July 22, 2011.
  32. ^ "US Foods purchases New City Packing Co". Fleet Owner. June 5, 2012.
  33. ^ Nearing, Brian (October 21, 2013). "US Foods buys firm". Times Union.
  34. ^ Maze, Jonathan (December 18, 2015). "US Foods buys Dierks Waukesha". Nation's Restaurant News.
  35. ^ "US Foods to acquire Cara Donna". Meat+Poultry. February 29, 2016.
  36. ^ "US Foods agrees to acquire Freshway Foods". Reuters. May 19, 2016.
  37. ^ "Red Arts Capital Announces Acquisition of Freshway Foods" (Press release). Business Wire. March 13, 2025.
  38. ^ "US Foods to acquire Jeraci Foods". Meat+Poultry. October 3, 2016.
  39. ^ "US Foods agrees to acquire Save On Seafood". Reuters. October 19, 2016.
  40. ^ "US Foods to acquire All American Foods". Meat+Poultry. February 15, 2017.
  41. ^ Schouten, Rebekah (April 24, 2017). "US Foods to acquire FirstClass Foods". Food Business News.
  42. ^ Maze, Jonathan (June 5, 2017). "US Foods acquires another distributor". Nation's Restaurant News.
  43. ^ "US Foods agrees to acquire TOBA Inc. distribution companies". Reuters. July 14, 2017.
  44. ^ Taylor, Natalie (January 1, 2018). "US Foods Agrees to Acquire SRA Foods". Informa.
  45. ^ Dawson, Gloria (September 12, 2019). "US Foods approved to acquire SGA's Food Group of companies". Nation's Restaurant News.
  46. ^ Redman, Russell (March 6, 2020). "Smart Foodservice Warehouse Stores to be acquired by US Foods for $970 million". Informa.
  47. ^ Avila, Larry (May 25, 2023). "US Foods to purchase Renzi Foodservice". Industry Dive.
  48. ^ "US Foods Acquires California-Based Saladino's Foodservice". FSR Magazine. November 8, 2023.
  49. ^ Goldschmidt, Bridget (February 15, 2024). "US Foods Acquiring IWC Food Service". Progressive Grocer.
[edit]
  • Official website
  • Business data for US Foods Holding Corp.: