23 03 2016

Sysco acquires European food distributor Brakes from Bain Capital for USD3.1 billion

Sysco Corporation, North America’s leading foodservice distributor, ahas signed a definitive agreement to acquire Brakes Group, a leading European foodservice distributor with operations in the United Kingdom, Ireland, France, Sweden, Spain, Belgium and Luxembourg from Bain Capital for an enterprise value of USD3.1 billion.


Brakes Group, a leading supplier to the foodservice in the United Kingdom, France, Sweden, Spain, Belgium and Luxembourg, is owned by Bain Capital, one of the world's foremost private equity firms. Unanimously approved by Sysco’s Board of Directors, the transaction expands Sysco’s footprint in the UK and Ireland and further into Europe and positions the company for potential future expansion in these markets. The deal is subject to customary regulatory review by European Union competition authorities. The companies expect to complete the transaction before the end of Sysco’s fiscal year in July 2016. Headquartered in London, Brakes Group will operate as a standalone company within Sysco. The Brakes Group business will continue to be led by chief executive officer Ken McMeikan. His management team and the rest of the employee base will remain in place. Baker & McKenzie has advised Bain Capital on the sale of the Brakes Group to Sysco with a team led by London-based partner David Allen (picture), assisted by Senior Associate Susie Davies. Involved fees earner: David Allen - Baker & McKenzie; Susie Davies - Baker & McKenzie; Alexandra Desberg - Baker & McKenzie; Eric Lasry - Baker & McKenzie; Guillaume Nataf - Baker & McKenzie; Laura Medjoub - Baker & McKenzie; Luis Gomez - Baker & McKenzie;

LATEST ISSUE
Powered by Share Trading

POPULAR ARTICLES
LE FONTI AWARDS - AWARDING WORLDWIDE CORPORATE EXCELLENCE IN INNOVATION

09/05/2018

LE FONTI AWARDS - AWARDING WORLDWIDE CORPORATE EXCELLENCE IN INNOVATION Read about le

LE FONTI AWARDS 2018 CELEBRATES CORPORATE EXCELLENCES IN HONG KONG

29/03/2018

On March 23rd 2018, the world’s leading corporate stars reunited for a special

LE FONTI AWARDS 2017 CELEBRATES CORPORATE EXCELLENCES IN DUBAI

14/12/2017

On December 14th, 2017, the world’s leading corporate stars reunited for a spec

LE FONTI AWARDS 2017 CELEBRATE CORPORATE EXCELLENCES IN LONDON

23/10/2017

On October 20th, 2017, the world’s leading corporate stars reunited for a speci

Le Fonti IAIR Awards Take Hong Kong By Storm

21/03/2017

Hong Kong has become a city of bright expansion, culture, and futuristic innovation. Fr