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Get filing alertsSysco details Jetro Restaurant Depot acquisition: mid-to-high single-digit EPS accretion year one
Filed August 12, 2026 · Period ending August 12, 2026 · ~1 min read
Key Changes
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Jetro Restaurant Depot acquisition expected to deliver mid-to-high single-digit adjusted EPS accretion in year one, low-to-mid-teens in year two, with $250M in net cost synergies and pro forma EBITDA margin expansion to 6.7% from 5.2% standalone.
Exhibit 99.1 view on EDGAR → -
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FY27 guidance: 6-7% sales growth (2.5% local case volume, 1.5-2.0% inflation) with adjusted EPS growth at high end of earnings algorithm, supported by ~$100M in cost savings from technology and AI initiatives.
Exhibit 99.1 view on EDGAR → -
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Sysco commits to reducing net leverage by ~1.0x within 24 months post-close (from 2.7x current) to 2.75x long-term target; no large-scale M&A until target achieved. Investment-grade ratings maintained.
Exhibit 99.1 view on EDGAR → -
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U.S. Foodservice segment accelerated in 2H FY26: local case growth improved to 2.9% from 0.5% in 1H, net sales growth to 3.8% from 2.7%, and adjusted operating income growth turned positive at 2.3% after -1.0% in 1H.
Exhibit 99.1 view on EDGAR → -
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Sysco returned ~$1.2B to shareholders in FY26 ($1B in dividends) and is on track for ~$21.7B cumulative cash return over 13 years ($ 100 million, FY15-FY27).
Exhibit 99.1 view on EDGAR →
Summary
Sysco furnished an investor presentation detailing the financial impact and strategic rationale for its pending acquisition of Jetro Restaurant Depot (JRD Unico and Warehouse Realty). The combined company will achieve a pro forma EBITDA margin of 6.7%, up from Sysco's standalone 5.2%, and free cash flow conversion above 85%. Management plans to open 125+ new Restaurant Depot locations over at least the next two decades.
Sysco also provided fiscal 2027 guidance, projecting 6-7% sales growth driven by 2.5% local case volume growth and 1.5-2.0% inflation. Adjusted EPS is expected to grow at the high end of the company's earnings algorithm, supported by approximately $100 million in cost savings from technology and AI-enabled initiatives across warehouse labor, transportation routing, and demand forecasting. The U.S. Foodservice segment showed meaningful momentum in the second half of fiscal 2026, with local case growth accelerating to 2.9% and operating income growth turning positive. Sysco commits to reducing net leverage by approximately 1.0x within 24 months post-close and will pursue no large-scale M&A until reaching its 2.75x long-term target, while maintaining investment-grade credit ratings and returning approximately $1 billion annually in dividends.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Sysco furnished an investor presentation on its previously announced acquisition of JRD Unico, Inc. and Warehouse Realty, LLC.
Added in current filing · verify on EDGAR →
On August 12, 2026, in connection with Sysco Corporation’s (“Sysco”) previously announced agreement to acquire JRD Unico, Inc. and Warehouse Realty, LLC, Sysco made a presentation to certain investors regarding the acquisition.
Sysco furnished an investor presentation regarding its previously announced acquisition of JRD Unico, Inc. and Warehouse Realty, LLC. The presentation was made to certain investors on August 12, 2026. The 8-K does not disclose the content of the presentation itself, only that it was made and attached as an exhibit.
Event · Exhibit 99.1
Sysco held an investor event on Aug 12, 2026, presenting FY27 guidance, cost-out initiatives, and details on the pending Jetro Restaurant Depot acquisition.
Added in current filing · view on EDGAR → · paraphrased
Sysco Pro Forma Revenue ~55% ... Sysco Pro Forma Adj. EBITDA ~45% ... Sysco Pro Forma FCF ~20% ... Step Up in Adj. EBITDA Margins 5.2% 6.7% ... Higher FCF Conversion 80%+ 85%+ ... Mid to High Single Digit Year 1 Adj. EPS Accretion ... Low to Mid - Teens Year 2 Adj. EPS Accretion
The presentation provides detailed financial metrics for the pending Jetro Restaurant Depot acquisition. Restaurant Depot generated approximately $16 billion in 2025 revenue with a 13% adjusted EBITDA margin and over 90% free cash flow conversion. The combined company is expected to achieve a pro forma adjusted EBITDA margin of 6.7% (up from Sysco standalone 5.2%) and free cash flow conversion of 85%+. Management projects mid-to-high single-digit adjusted EPS accretion in year one and low-to-mid-teens accretion in year two, with $250 million in expected net cost synergies and plans to open 125+ new locations over at least the next two decades. Note: these figures were previously disclosed in the company's May 18, 2026 8-K.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 13, 2026 · How we verify