Sysco offers to buy US Foods for $3.5 billion

Dec. 9—Sysco Corp. said Monday it would buy Rosemont-based US Foods Inc. for about $3.5 billion and assume about $4.7 billion in debt.

Shareholders of US Foods, owned by affiliates of private equity firms Clayton, Dubilier & Rice and KKR & Co., will own about 13 percent of Sysco after the closing of the deal, which will create a company with revenue of $65 billion.

Sysco's shares 30 percent before the bell. The deal would cement its position as the biggest U.S. food distributor.

"Combining and maximizing the significant strengths of two outstanding companies is certain to be of tremendous advantage in supporting our customers," US Foods Chief Executive John Lederer said in a statement on Monday.