BREAKING NEWS

BREAKING NEWS

U.S. Foods to buy SGA's Food Group for $1.8 billion

Now Reading:

U.S. Foods to buy SGA's Food Group for $1.8 billion

Text size Aa Aa

(Reuters) - Food distribution company US Foods Holding Corp <USFD.N> said on Monday it would buy SGA's Food Group of Cos for $1.8 billion in cash.

SGA's Food comprises five operating units - Food Services of America Inc, Systems Services of America Inc, Amerifresh Inc, Ameristar Meats Inc and GAMPAC Express Inc.

The deal is expected to add to US Foods' adjusted profit in the second year following the closing of the transaction.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D'Silva)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.