Sysco prices $1B stock offering to fund Jetro Restaurant Depot deal

Sysco Corporation (NYSE: SYY) priced a public offering of 12,345,679 shares of common stock at $81.00 per share, according to a press release from the Houston-based food distributor. The offering is expected to close on Sept. 16, 2026, subject to customary closing conditions.

The offering is valued at approximately $1 billion at the stated price. Sysco has also granted underwriters a 30-day option to purchase up to an additional $150 million in shares to cover any overallotments, at the same price per share.

Sysco said it intends to use the net proceeds to finance a portion of the consideration for its pending acquisition of Jetro Restaurant Depot. The company noted the offering is not contingent on the completion of that acquisition.

Goldman Sachs & Co. LLC and TD Securities (USA) LLC are serving as lead book-running managers for the offering. BofA Securities, J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC are also acting as book-running managers.

The offering is being made under Sysco's shelf registration statement on Form S-3ASR, filed with the Securities and Exchange Commission.

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