Huge U.S. food services firm to go public
Mike Ouellette
In its IPO filing, U.S. Foods said it has about 25,000 workers and annual sales of $23 billion
ROSEMONT, Ill.—The nation’s second-largest food-service distributor has filed papers for an initial stock offering.
U.S. Foods Holding Corp., based in Rosemont, Illinois, said Tuesday it plans to raise $100 million in the IPO, although the amount was listed to calculate fees and will likely be revised.
In its filing, U.S. Foods said it has about 25,000 workers and annual sales of $23 billion. It reported a net loss of $73 million last year.
The filing comes several months after a judge blocked plans by larger rival Sysco Corp. to acquire U.S. Foods for $3.5 billion.
U.S. Foods is owned by two private investment firms, Clayton, Dubilier & Rice and Kohlberg Kravis Roberts, which say they plan to keep controlling a majority of the company’s voting stock. The company says it will use proceeds from the stock sale to pay off debt, among other purposes.
It plans to list its shares on the New York Stock Exchange under the symbol “USFD.”
