US Foods (USFD) IPO Opens Up 5%
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Today's IPO for US Foods Holding Corp. (NYSE: USFD), the parent company of US Foods, Inc., opened for trading at $24.25 after pricing 44,444,444 shares at $23, the higher-end of the expected $21-$24 range.
Goldman, Sachs & Co., Morgan Stanley and J.P. Morgan are acting as joint book-running managers for the offering and the representatives of the underwriters. BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities, Wells Fargo Securities and KKR are also serving as joint book-running managers for the offering and BMO Capital Markets, Guggenheim Securities, ING, Rabo Securities and Natixis are serving as co-managers for the offering.
US Foods Holding Corp. is a large foodservice distributor serving chefs and foodservice operators across the country. Its customers include independent and multi-unit restaurants, healthcare and hospitality entities, government and educational institutions. The company employs approximately 25,000 people in 62 locations nationwide. US Foods Holding Corp. is headquartered in Rosemont, Ill.
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