Featured Company News – US Foods Agrees to Acquire TOBA Inc.’s Distribution Companies
ACCESSWIRE
LONDON, UK / ACCESSWIRE / July 18, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for US Foods Holdings Corp. (NYSE: USFD), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=USFD. The Rosemont, Illinois based Company announced on July 14, 2017, that it has decided to acquire broadline distributors, The Thompson Company, Braunger Foods, and Variety Foods, owned and operated by TOBA Inc. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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TOBA Inc. acquired Grand Island based Thompson Company in 1995. The Company expanded its food distribution system with the acquisition of Braunger Foods located in Sioux City in 2002. TOBA Inc. acquired Variety Foods in 2007 located in Sioux Falls, South Dakota. The three companies serve independent restaurant, school, grocery, and convenience store in seven states across the Midwest.
Following the acquisition, US Foods will continue to function at all three locations, working collectively with around 250 combined employee base. The transaction is likely to close by the end of July 2017. Terms of the transaction remain undisclosed.
Plans of Expansion
Russell Scott, Midwest President of US Foods, expressed:
"This acquisition allows us to expand further into the Midwest and positions us even closer to our customers. We look forward to building on the expertise of the strong employee base at The Thompson Company, Braunger Foods, and Variety Foods and welcoming them to US Foods."
Acquisition Deals in 2017
As per the news release, US Foods agreed to acquire All American Foods, a broadline distributor based in North Kingstown, with annual sales of nearly $60 million, on February 14, 2017. The acquisition helped US Food to enhance its ability to serve customers in the Northeast region, an area of the country heavily populated with independent restaurants.
On March 06, 2017, US Foods announced the acquisition of SRA Foods, a meat processor, and distributor in Birmingham, with annual sales of approximately $80 million.
News release suggests that US Foods agreed to sign an acquisition agreement with FirstClass Foods, a privately owned meat manufacturing company based in Hawthorne, on April 24, 2017. This acquisition supported US Foods to expand its center of the plate offering and better serve the customers throughout southern California.
US Foods decided to acquire Louisiana based F. Christiana, a broadline distributor of food and food-related products concentrating on the important center-of-the-plate categories as well as dairy and dry goods, on June 02, 2017. The deal enhanced US Foods' position with new and existing customers in Louisiana.
About US Foods
US Foods Inc. (US Foodservice, Inc.) is one of America's great food companies and a leading foodservice distributor, partnering with approximately 250,000 restaurants and foodservice operators to help their businesses succeed. With nearly 25,000 employees and more than 60 locations, US Foods provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology, and business solutions. US Foods generates approximately $23 billion in annual revenue. US Foods, Inc. operates as a subsidiary of US Foods Holding Corp.
About TOBA Inc.
Founded in 1986, TOBA Inc. is the fastest growing food service company in the world, mainly engaged in the wholesale of equipment. The Company's businesses specialize in various aspects of the industry including food manufacturing, food distribution, restaurant supply products and equipment, and the creation of their own brands to fill the missing products or services in the food service industry. TOBA, Inc. is a holding company for eight individual Limited Liability Corporations in the food industry. The Company is headquartered in Tokyo, Japan.
Last Close Stock Review
On Monday, July 17, 2017, the stock closed the trading session at $27.97, marginally rising 0.25% from its previous closing price of $27.90. A total volume of 1.52 million shares has exchanged hands. US Foods' stock price rallied 2.79% in the last three months, 5.55% in the past six months, and 12.24% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 1.78%. The stock is trading at a PE ratio of 28.54. At Monday's closing price, the stock's net capitalization stands at $6.14 billion.
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