US Foods Announces Secondary Public Offering, Plans to Upsize

US Foods Announces Secondary Public Offering, Plans to Upsize



ROSEMONT, IL – Last week, on January 25, US Foods Holding Corp. announced the pricing of a secondary public offering of 36,000,000 shares of common stock at a price of $26.00 per share for a total offering size of $936,000,000.

The selling stockholders—investment funds associated with Clayton, Dubilier, & Rice, LLC and Kravis Roberts & Co. L.P.—have also granted the underwriters a 30-day option to purchase up to an additional 5,400,000 shares of common stock from the selling stockholders, according to a US Foods press release. If exercised, the total offering size could reach $1,076,400,000.

The offering concludes today, January 31, subject to customary closing conditions. US Foods is not selling any stock in this transaction and will not receive any proceeds from the sale of the shares by the selling stockholders.

Goldman, Sachs & Co., Morgan Stanley, and J.P. Morgan are acting as joint book-running managers for the offering and representatives of the underwriters. BofA Merrill Lynch, Citigroup, Credit Suisse, Wells Fargo Securities, and KKR are also serving as joint book-running managers for the offering and Guggenheim Securities, ING, Rabo Securities, and Natixis are serving as co-managers for the offering.

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As we reported, in May of last year, US Foods made its initial public offering, selling 44.4 million shares at $23 and raising $1.02 billion in what was, at the time, the second-largest IPO of 2016.

For more updates on this public offering and its implications, check back in with us at AndNowUKnow.

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US Foods

US Foods is one of America’s leading foodservice distributors to restaurants, healthcare and hospitality facilities,...