M&A Deal Summary

Sysco Acquires Brakes Bros

On February 22, 2016, Sysco acquired food company Brakes Bros from Bain Capital Private Equity for 2.2B GBP

Acquisition Highlights
  • This is Sysco’s 11th transaction in the Food sector.
  • This is Sysco’s 2nd largest (disclosed) transaction.
  • This is Sysco’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2016-02-22
Target Brakes Bros
Sector Food
Buyer(s) Sysco
Sellers(s) Bain Capital Private Equity
Deal Type Add-on Acquisition
Deal Value 2.2B GBP
Advisor(s) Goldman Sachs (Financial)
Baker & McKenzie (Legal)

Target

Brakes Bros

Ashford, United Kingdom
Brakes Bros is a food supplier to caterers in the UK and France. Its strong understanding of the needs of the catering industry, combined with innovation in both products and service, has seen Brakes develop into the major supplier of frozen, fresh and ambient foods to caterers across the UK.

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Buyer(S) 1

Buyer

Sysco

Houston, Texas, United States
Category Company
Founded 1969
Sector Distribution
Employees72,000
Revenue 76.3B USD (2023)
DESCRIPTION
Entrance to Sysco's corporate headquarters in Houston, Texas.
Entrance to Sysco's corporate headquarters in Houston, Texas.

Sysco is a distributor of food products to restaurants, healthcare and educational facilities, lodging establishments, and other customers who prepare meals away from home. Sysco's family of products also includes equipment and supplies for the food service and hospitality industries. Sysco was founded in 1969 and is based in Houston, Texas.

DEAL STATS #
Overall 27 of 36
Sector (Food) 11 of 13
Type (Add-on Acquisition) 24 of 33
Country (United Kingdom) 2 of 3
Year (2016) 2 of 4
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-22 The Brakes Group

Kent, United Kingdom

The Brakes Group is a provider of poultry to caterers in Great Britain.

Buy £2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-25 North Star Seafood

Pompano Beach, Florida, United States

North Star Seafood, Inc. is a distributor and processor of seafood products. The Company offers customers a combination of fresh and frozen seafood ranging from lobsters, fish, scallops, shrimp, mussels, oysters, squid, and other seafood and non-seafood products.

Buy -

Seller(S) 1

SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 79 of 147
Sector (Food) 1 of 1
Type (Add-on Acquisition) 20 of 40
Country (United Kingdom) 1 of 7
Year (2016) 2 of 15
Size (of disclosed) 8 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-18 Quest Global Services

Singapore , Singapore

Quest Global Services is a global engineering solutions provider with a proven track record of serving the product development & production engineering needs of high technology companies. Quest Global Services was founded in 1997 and is based in Singapore.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-17 APMG Asia Pacific Medical Group

Beijing, China

APMG Asia Pacific Medical Group is a provider of primary care and specialty services, with a focus on neurology and oncology, with five hospitals and a number of clinics in Southeast Asia. APMG Asia Pacific Medical Group was founded in 1992 and is based in Beijing, China.

Buy -
Mergr

Product

Company

Legal