Sysco Announces Pricing of Common Stock Offering
Sysco will raise equity capital to help fund its pending Jetro Restaurant Depot acquisition through a newly priced common stock offering.
Rhea-AI Summary
Sysco (SYY) priced a public offering of 12,345,679 common shares at $81.00 per share, with closing expected on September 16, 2026, subject to customary conditions.
The company granted underwriters a 30‑day option to buy up to an additional $150 million of common stock to cover overallotments at the same price. Sysco intends to use the net proceeds to fund a portion of the consideration for its pending acquisition of Jetro Restaurant Depot, and the offering is not contingent on that acquisition closing. Goldman Sachs & Co. LLC and TD Securities (USA) LLC are lead book‑running managers, with BofA Securities, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC also serving as book‑running managers. The offering is being made via a prospectus supplement under Sysco’s automatic shelf registration statement on Form S‑3ASR filed with the SEC.
Positive
- Equity proceeds earmarked to fund Jetro Restaurant Depot acquisition consideration
- Underwriters granted 30-day option to buy up to $150 million additional stock
- Offering uses existing Form S-3ASR shelf, supporting timely access to capital markets
Negative
- Sale of 12,345,679 new common shares creates immediate shareholder dilution
- Overallotment option of up to $150 million could increase dilution further
News Explained
The raise is priced but not closed, making dilution a pending rather than completed ownership change for existing common holders.
Sysco has priced its common-stock offering, with closing expected on
As an underwritten offering, investment banks buy the securities from Sysco and resell them; underwriting fees reduce the company’s net proceeds below the gross amount, with those net proceeds intended to fund part of the Jetro Restaurant Depot acquisition.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, Sept. 14, 2026 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) (“Sysco” or the “Company”) today announced the pricing of its previously announced public offering of 12,345,679 shares of its common stock (the “Offering”) at a price to public of
Sysco has granted the underwriters of the Offering a 30-day option to purchase up to an additional
Sysco intends to use the net proceeds from the Offering to finance a portion of the consideration for its pending acquisition of Jetro Restaurant Depot. The Offering is not contingent on the consummation of the acquisition.
Goldman Sachs & Co. LLC and TD Securities (USA) LLC are acting 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 for the Offering.
The Offering is being made by means of a prospectus supplement under Sysco’s shelf registration statement on Form S-3ASR, as filed with the Securities and Exchange Commission (the “SEC”).
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor does it constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The Offering is being made only by means of a prospectus supplement relating to the Offering and the accompanying prospectus.
Copies of the final prospectus supplement for the Offering and the accompanying prospectus may be obtained free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained from:
- Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, or by e-mail at prospectus-ny@ny.email.gs.com;
- TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at TDManualrequest@broadridge.com;
- BofA Securities, Attention: Prospectus Department, 201 North Tryon Street, Charlotte, NC 28255-0001, or by e-mail at dg.prospectus_requests@bofa.com;
- J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by e-mail at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; or
- Wells Fargo Securities, LLC, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, by telephone at 800-645-3751 (option #5) or by email at WFScustomerservice@wellsfargo.com.
About Sysco
Sysco is the global leader in selling, marketing and distributing food and related products to customers who prepare meals away from home. This includes restaurants, healthcare and educational facilities, lodging establishments, entertainment venues, and more. Sysco operates 333 distribution centers, in 10 countries, with 75,000 colleagues serving approximately 670,000 customer locations. The company generated sales of more than
As the world’s largest food-away-from-home distributor, Sysco offers customized supply chain solutions, bespoke specialty product offerings, and culinary support to drive customers to innovate and optimize their operations. We act as a trusted business partner to our customers, helping them grow through our industry-leading portfolio that includes fresh produce, premium proteins, specialty products, sustainably focused items, equipment and supplies, and innovative culinary solutions.
Forward-Looking Statements
Statements made in this press release include statements that are forward-looking or that express management’s beliefs, expectations or hopes and are forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements regarding the terms, timing and completion of the Offering and our anticipated use of the proceeds thereof, statements about our future financial performance and results, business strategy, plans, goals and objectives, and other statements that are not historical facts, including expectations regarding our future growth, including growth in sales and earnings per share, expectations regarding cost savings associated with AI, as well as statements about the expected timing and completion of the proposed transaction with Jetro Restaurant Depot and the anticipated benefits of such proposed transaction.
Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions, including those outside of Sysco’s control. Risks and uncertainties include without limitation: the impact of geopolitical, economic and market conditions and developments, including changes in global trade policies and tariffs and foreign conflicts; risks related to our business initiatives; periods of significant or prolonged inflation or deflation and their impact on our product costs, volume, foot traffic, and profitability generally; risks related to our efforts to implement our transformation initiatives and meet our other long-term strategic objectives; risks of interruption of supplies and increase in product costs; risks related to changes in consumer eating habits; and impact of natural disasters or adverse weather conditions, public health crises, adverse publicity or lack of confidence in our products, and product liability claims as well as risks and uncertainties associated with our proposed transaction with Jetro Restaurant Depot, including but not limited to, the occurrence of any event, change or other circumstances that could give rise to the right of either or both parties to terminate the merger agreement; the risk that regulatory approvals may not be obtained or other closing conditions may not be satisfied in a timely manner or at all, as well as the risk that regulatory approvals are obtained subject to conditions that are not anticipated; the risk of other delays in closing the transaction; the possibility that any of the anticipated benefits and projected synergies of the transaction will not be realized or will not be realized within the expected time period; and the risk that the proposed transaction and its announcement could have an adverse effect on the market price of the common stock of Sysco. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Therefore, you should not place undue reliance on any of the forward-looking statements contained herein. For more information on these risks and other concerning factors that could cause actual results to differ from those expressed or forecasted, see our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC. We do not undertake to update our forward-looking statements, except as required by applicable law.
| For more information contact: | |
| Kevin Kim | Cassandra Mauel |
| Investor Contact | Media Contact |
| kevin.kim@sysco.com | cassandra.mauel@sysco.com |
| T 281-584-1219 | T 281-584-1390 |
SYY-INVESTORS
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When is Sysco’s common stock offering expected to close?
The offering is expected to close on September 16, 2026, subject to customary closing conditions.
Is Sysco’s equity offering contingent on closing the Jetro Restaurant Depot acquisition?
No. Sysco states that the offering is not contingent on the consummation of the Jetro Restaurant Depot acquisition.
Who are the book-running managers for Sysco’s offering?
Goldman Sachs & Co. LLC and TD Securities (USA) LLC are acting as lead book-running managers. BofA Securities, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are also acting as book-running managers.
How can investors obtain the prospectus for Sysco’s common stock offering?
Investors can obtain the final prospectus supplement and accompanying prospectus free of charge by visiting the SEC’s EDGAR website at www.sec.gov. Alternatively, copies may be requested from the prospectus departments or contacts listed for Goldman Sachs & Co. LLC, TD Securities (USA) LLC, BofA Securities, J.P. Morgan Securities LLC, or Wells Fargo Securities, LLC using the postal addresses, phone numbers, or email addresses provided.