On March 30, 2026, Natie Kirsh finalized the sale of Jetro Restaurant Depot to Sysco for a substantial $29.1 billion. This deal is notable not only for its size but also for its implications in the food supply sector.
The acquisition includes $21.6 billion in cash and 91.5 million shares of Sysco stock. Jetro, which operates 166 stores across 35 states in the United States, generated approximately $16 billion in annual revenue prior to the sale.
This transaction is one of the largest in the food supply sector in recent years, highlighting Sysco’s position as the largest food distributor in the United States. The deal represents a multiple of more than 14 times Jetro’s operating income, raising some concerns among analysts.
Kevin Hourican, a representative from Sysco, stated, “The combined company will have increased purchasing efficiencies, enabling lower prices for customers.” However, Adam Crisafulli, an analyst, noted that “Sysco shareholders in the immediate term don’t love the deal given the elevated multiple being paid and the transaction’s scope.”
Jetro functions similarly to a Costco for smaller restaurant owners and food-service operators, making this acquisition strategically significant for Sysco as it seeks to expand its market reach.
Sysco plans to fund the deal with $1 billion of cash on hand and $21 billion of new debt. Upon completion of the transaction, Jetro shareholders will own about 16% of Sysco’s stock.
The acquisition is subject to regulatory approval and customary closing conditions, which means that while the deal has been announced, it is not yet finalized. As such, details remain unconfirmed.
Natie Kirsh, who founded Jetro in 1976 after moving to New York from South Africa, has played a pivotal role in shaping the company into a significant player in the restaurant supply industry.
The outcome of this acquisition will be closely watched as it could reshape the competitive landscape of food distribution in the United States.
