Sysco Buying US Foods for $3.5 Billion

The juggernaut should be up and running next year.

The world's largest restaurant and institutional food-distribution company is buying the second-biggest supplier-giant fish in the pond for $3 billion in stock and $500 million in cash, Dealbook reports. Sysco and US Foods are the folks who deliver pallets of frozen fries and oceans and canned ketchup to restaurants and cafés, chain and otherwise, across the country. The transaction will first have to clear regulatory approval, but once it does, the move will result in a very large company serving a lot more than a half-million customers. [Dealbook/NYT]