Sysco Corp., Houston, Texas, reached a definitive agreement to acquire Brakes Group, a European foodservice distributor with operations in the United Kingdom, Ireland, France, Sweden, Spain, Belgium and Luxembourg. The transaction is valued at approximately $3.1 billion.
This transaction expands Sysco’s footprint in the UK and Ireland and further into Europe and positions the company for potential future expansion in these markets. Both companies expect to complete the transaction before the end of Sysco’s fiscal year in July.