News & Announcements

Weil Advises Goldman Sachs on Bridge Facility for Sysco

Sysco to acquire US Foods in transaction valued at $8.2 billion
A Weil team, led by New York partners Morgan Bale and Matthew Bloch, advised Goldman Sachs in connection with providing committed bridge financing (and related matters) backing the acquisition by Sysco Corporation of US Foods, Inc., uniting two of the biggest food distributors in the country. The transaction will give US Foods’ current owners, the investment firms Clayton, Dubilier & Rice and Kohlberg Kravis Roberts, a roughly 13 percent stake in the combined company. Including the assumption of US Foods’ debt, the transaction is valued at $8.2 billion. The transaction is expected to close by the third quarter next year, pending antitrust approval.

The Weil team advising Goldman Sachs was led by Banking & Finance partner Morgan Bale and Capital Markets partner Matthew Bloch, and included M&A partner Michael Aiello, Environmental partner Annemargaret Connolly (Washington DC), Tax partner Larry Horton, Structured Finance & Derivatives counsel Nancy Lynch, Banking & Finance associates Brandon Cherry, Peter Puk, Sarah Davis and Maria Lei, Capital Markets associates Faiza Rahman, Michael Esposito and Meera Sitaram, M&A associates Megan Pendleton and Megan Ward, Environmental associate Matthew Morton (Washington DC), and Tax associate Eric Remijan (all in New York unless otherwise specified).

This news was reported in the following outlets (may require registration/subscription):

  • The Am Law Daily: Four Firms Feast on $8.2 Billion US Foods Sale (December 9, 2013)
  • New York Law Journal: New Deals: $8.2 Billion US Foods Sale Involves Wachtell, Simpson, Debevoise, Others (December 12, 2013)