US-based foodservice distributor Sysco Corporation, has reached a definitive agreement to acquire Brakes Group, for $3.1 billion (€2.8 billion) or approximately £2.2 billion.
Brakes Group, owned by Bain Capital Private Equity, has operations in the United Kingdom, Ireland, France, Sweden, Spain, Belgium and Luxembourg.
The transaction is valued at approximately $3.1 billion (€2.8 billion) and includes the repayment of approximately $2.3 billion (€2.1 billion) of Brakes Group’s financial debt.
Unanimously approved by Sysco’s board of directors, the transaction expands Sysco’s footprint in the UK and Ireland and further into Europe and positions the company for potential future expansion in these markets.
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