US Foods to Buy SGA's Food Group for $1.8 billion

WINSTON-SALEM, N.C. - July 30, 2018 - PRLog -- US Foods is expanding its presence across the Northwest region with a deal to buy SGA's Food Group of Companies for $1.8 billion in cash.

"This acquisition will significantly increase US Foods' reach across key markets in the attractive and growing Northwest region of the U.S. and adds one of the most well-regarded regional distributors to our company," said US Foods Chairman and CEO Pietro Satriano.

SGA's Food Group of Companies, based in Scottsdale, Arizona, has combined 2017 net sales of $3.2 billion and approximately 3,400 employees. In total, Services Group of America has approximately 33,000 customers, 12 distribution centers and more than 20 private brands.

US Foods, a foodservice distributor with 25,000 employees and more than 60 locations, will finance the acquisition primarily with $1.5 billion in fully committed term loan financing from J.P. Morgan and Bank of America Merrill Lynch and will fund the balance of the purchase price through its existing liquidity resources, according… To read the complete story, click on this link: https://abasto.com/en/news/us-foods-to-buy-sgas-food-group/