U.S Foods Holdings (USFD) Files $100M IPO

U.S Foods Holdings (NYSE: USFD) filed an IPO on form S-1 with the SEC. The company plans to list on the NYSE under the symbol "USFD." The maximum offering size is $100 million.

After the completion of this offering, affiliates of private equity firms Clayton, Dubilier & Rice, LLC and Kohlberg Kravis Roberts & Co. L.P., acting as a group, will continue to own a majority of the voting power of the outstanding shares.

Underwriters were not listed.

U.S Foods Holdings is one of only two foodservice distributors with a national footprint in the United States. With net sales of $23 billion in the twelve months ended September 26, 2015, they are the second largest foodservice distributor in the United States with a 2014 market share of approximately 9%.

In 2015, a planned merger between the company and rival Sysco Corporation (NYSE: SYY) was terminated based on anti-trust concerns.

For the twelve months ended September 26, 2015, the company generated $23 billion in net sales, $860 million in Adjusted EBITDA, and $250 million in operating income.

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