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;

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