M&A Deal Summary

US Foods Acquires Smart Foodservice Warehouse Stores

On March 6, 2020, US Foods acquired retailer Smart Foodservice Warehouse Stores from Apollo Global Management for 970M USD

Acquisition Highlights
  • This is US Foods’ 1st transaction in the Retail sector.
  • This is US Foods’ 2nd largest (disclosed) transaction.
  • This is US Foods’ 23rd transaction in the United States.
  • This is US Foods’ 1st transaction in Oregon.

M&A Deal Summary
Date 2020-03-06
Target Smart Foodservice Warehouse Stores
Sector Retail
Buyer(s) US Foods
Sellers(s) Apollo Global Management
Deal Type Add-on Acquisition
Deal Value 970M USD

Target

Smart Foodservice Warehouse Stores

Clackamas, Oregon, United States
Smart Foodservice Warehouse Stores LLC sells quality ingredients and restaurant supplies in a simple, convenient warehouse format by providing it's customers exceptional service and a dependable source of supply.

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Buyer(S) 1

Buyer

US Foods

Rosemont, Illinois, United States
Category Company
Founded 2007
Sector Distribution
Employees30,000
Revenue 35.6B USD (2023)
DESCRIPTION
Entrance to US Foods' headquarters in Rosemont, Illinois.
Entrance to US Foods' headquarters in Rosemont, Illinois.

US Foods is a food distributor to restaurants, healthcare and hospitality facilities, government operations and educational institutions. The Company offers more than 350,000 national brand products and our own high-quality private label items ranging from meats to produce to frozen foods. US Foods was founded in 2007 and is based in Rosemont, Illinois.

DEAL STATS #
Overall 23 of 24
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 19 of 20
State (Oregon) 1 of 1
Country (United States) 23 of 24
Year (2020) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 SGA’s Food Group of Companies

Scottsdale, Arizona, United States

SGA’s Food Group of Companies is comprised of five businesses providing a broad array of foodservice solutions to a wide spectrum of customers including independent and chain foodservice operators. The businesses are Food Services of America, Systems Services of America, Amerifresh, Ameristar Meats and GAMPAC.

Buy $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-19 Renzi Foodservice

Watertown, New York, United States

Renzi Foodservice is a broad-line distributor that serves more than 2,300 independent restaurants, healthcare facilities, schools, government organizations, convenience stores, and other customers. Renzi Foodservice is based in Watertown, New York.

Buy -

Seller(S) 1

SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 45 of 67
Sector (Retail) 4 of 7
Type (Add-on Acquisition) 12 of 21
State (Oregon) 1 of 1
Country (United States) 33 of 51
Year (2020) 1 of 4
Size (of disclosed) 12 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-06 Covis Pharma

Baarn, Netherlands

Covis Pharma is a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses. Covis is focused on marketing and distributing an array of branded products used to treat chronic and life-threatening medical issues and improve patient outcomes in various therapeutic areas including respiratory, cardiovascular, gastroenterology and central nervous system diseases. Covis Pharma is based in Baarn, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-23 Expedia

Seattle, Washington, United States

Expedia is an online travel company that provides business and leisure travelers with technology, tools and information to research, plan, book and experience travel. Expedia was founded in 1996 and is based in Seattle, Washington.

Buy -
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