Sysco $3.1 billion acquisition of Brakes Group

Overview:

• Sysco has acquired UK food product supplier Brakes Group for $3.1 billion from Bain Capital.
• The deal includes a repayment of $2.3 billion of Brakes debt.
• The repayment will be refinanced through a completed $2.5 billion debt offering by Sysco.
• The offering consisted of $500 million 1.9%, $500 million 2.5%, $1 billion 3.3% and $500 million 4.5% notes. 
• Brakes operates in a range of countries in Europe and is headquartered in London.

Sam Duke - Editor