Business

US Foods completes acquisition of Smart Foodservice

Posted April 24, 2020 1:00 am

ROSEMONT- US Foods Holding Corp. has completed its $970 million acquisition of Smart Foodservice Warehouse Stores.

The transaction excludes the Smart & Final retail grocery business, which was previously separated from Smart Foodservice.

Founded in 1955 and headquartered in the greater Portland, Oregon area, Smart Foodservice operates 70 small-format cash and carry stores across California, Washington, Oregon, Idaho, Nevada, Utah and Montana that serve small and mid-sized restaurants and other food business customers with a broad assortment of products. Smart Foodservice will operate as a separate operating unit within US Foods, with minimal integration required.

US Foods funded the purchase price for the acquisition with cash on hand and the proceeds from a $700 million term loan.

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