US Foods Ramps Up As it Moves Toward its IPO
ROSEMONT, IL- In another move as the company looks to move forward its IPO, US Foods Holding Corp. has filed an amended Form S-1 with the U.S. Securities and Exchange Commission as of March 31, 2016. According to Reuters, the company has officially named KKR as underwriter to its IPO. And Renaissance Capital notes that US Foods Holding reported financial results in that amendment filed with the SEC today.
US Foods Holding reported $23.1 billion in sales for the 53 weeks which ended January 2, 2016 and has been growing its efficiency and productivity with recent moves like the acquisition of New England-based wholesale distributor, Cara Donna Provision Co., and family-owned foodservice distributor Dierks Waukesha. US Foods also decided to double the size of its 123,000-square-foot facility in Fife, Washington.
As of now, US Foods has not revealed any pricing details for the initial public offering price per share, according to the SEC document. US Foods intends to list its common stock on The New York Stock Exchange (the “NYSE”) under the symbol “USFD.”
As we previously reported US Foods’ parent company, US Foods Holding Corp., filed a proposal for an initial public offering (IPO) on Feb. 9th. While the number of shares and the price range for the offering had not been determined, Fortune had reported that US Foods planned to raise $100 million, and that this number is likely to increase as the filing moves forward.
This latest filing also notes that, "After the completion of this offering, affiliates of Clayton, Dubilier & Rice, LLC and Kohlberg Kravis Roberts & Co. L.P., acting as a group, will continue to own a majority of the voting power of all outstanding shares of our common stock. As a result, we will be a 'controlled company' pursuant to the corporate governance standards of the NYSE."
Stay tuned to AndNowUKnow as the news around US Foods’ IPO continues to develop.
