US Foods Holding Corp. has entered an agreement to acquire Smart Foodservice Warehouse Stores for $970 million in cash. Smart Foodservice operates 70 small-format cash and carry stores across seven states that serve small and mid-sized restaurants and other food business customers.
“As we continue to expand our multi-channel strategy, we know customers, particularly independent restaurants, increasingly use cash and carry as a convenient, cost-effective purchasing option,” said US Foods chairman and CEO Pietro Satriano, in a statement. “With an established footprint and a consistent record of profitable growth, Smart Foodservice will complement our Chef'Store cash and carry model and provide a platform to significantly accelerate our presence in this attractive, growing channel.”
from Industry Operations https://ift.tt/39Apnky
No comments: