Sysco Corporation completed the acquisition of Edward Don & Company, LLC from Vestar Capital Partners, LLC and Don family for approximately $970 million.
November 26, 2023
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Sysco Corporation (NYSE:SYY) agreed to acquire Edward Don & Company, LLC from Vestar Capital Partners, LLC and Don family on October 11, 2023. Upon completion of the transaction, DON will operate as a standalone specialty division within Sysco. In addition, Sysco expects to retain the leadership team of DON, as well as all current employees. For year ended 2022, Edward Don & Company, LLC generated revenues of approximately $1.3 billion. The acquisition is subject to regulatory approval and other customary closing conditions. Wells Fargo Securities, LLC acted as financial advisor to Sysco Corporation (NYSE:SYY). J.P. Morgan Securities LLC and William Blair served as joint lead financial advisors to Edward Don & Company and Vestar Capital Partners. Frances Dales, Ryan Brissette, Jennifer Perkins, David Grenker and Vivek Ratnam of Kirkland & Ellis acted as legal advisors to Vestar Capital Partners and Edward Don & Company.
Sysco Corporation (NYSE:SYY) completed the acquisition of Edward Don & Company, LLC from Vestar Capital Partners, LLC and Don family for approximately $970 million on November 27, 2023. Sysco acquired 100% of the members? equity of Edward Don & Company for cash consideration of $969.4 million.
Sysco Corporation is North America no. 1 distributor of food products for food industry services and out of home catering sectors. The net sales by market break down as follows:
- restaurant (62%);
- restaurants (66%);
- hospitals and nursing homes (9%);
- schools, universities and government organizations (6%);
- hotels and motels (5%);
- other (14%).
Net sales by family of products break down between fresh and frozen meats (19%), dry and canned products (16%), frozen fruits, vegetables and bakery products (15%), poultry (11%), dairy products (10%), fresh products (8%), paper and disposable products (8%), seafood (5%), beverages (3%) and other (5%).
At the end of June 2021, the group had 326 distribution facilities worldwide.
Net sales break down geographically as follows: the United States (83.1%), Canada (7.6%), the United Kingdom (3.3%), France (2.1%) and other (3.9%).
Sysco Corporation completed the acquisition of Edward Don & Company, LLC from Vestar Capital Partners, LLC and Don family for approximately $970 million.
SYSCO CORPORATION 
