Sysco Announces Closing of C$1.5 Billion Senior Notes Offering

HOUSTON, Sept. 25, 2026 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) (“Sysco” or the “Company”) today announced that Sysco and Sysco Holdings Corporation, a Delaware corporation and wholly-owned subsidiary of Sysco (“Sysco Holdings” and, together with Sysco, the “Issuers”), have closed a public offering (the “Offering”) of C$1.5 billion in aggregate principal amount of senior notes consisting of the following securities:

• C$750 million in aggregate principal amount of 4.250% Senior Notes due 2030 (the “2030 Notes”); and
• C$750 million in aggregate principal amount of 4.800% Senior Notes due 2034 (the “2034 Notes” and, together with the 2030 Notes, the “Notes”).
  
  

The Issuers estimate that they will receive approximately C$1.49 billion from the Offering, after deducting underwriting discounts and estimated offering expenses payable by them. The Issuers intend to use the net proceeds from the Offering to pay a portion of the cash consideration for the pending acquisition of Jetro Restaurant Depot, and all other fees, costs and expenses related thereto or, if the acquisition is not consummated, to pay for the special mandatory redemption of the Notes pursuant to their terms.

The Offering is being made by means of a prospectus supplement under the Issuers’ shelf registration statement on Form S-3ASR, as filed with the Securities and Exchange Commission (the “SEC”). The Offering was also made on a private placement basis in Canada.

Goldman Sachs & Co. LLC, TD Securities Inc. and Merrill Lynch Canada Inc. acted as joint book-running managers for the Offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor does it constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The Offering was made in the U.S. only by means of a prospectus supplement relating to the Offering and the accompanying prospectus.

Copies of the final prospectus supplement for the Offering and the accompanying prospectus may be obtained free of charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained by calling Goldman Sachs & Co. LLC toll free at 1-866-471-2526, TD Securities Inc. at 1-800-372-5292 or Merrill Lynch Canada Inc. toll free at 1-800-294-1322.

About Sysco

Sysco is the global leader in selling, marketing and distributing food and related products to customers who prepare meals away from home. This includes restaurants, healthcare and educational facilities, lodging establishments, entertainment venues, and more. Sysco operates 333 distribution centers, in 10 countries, with 75,000 colleagues serving approximately 670,000 customer locations. The company generated sales of more than $84 billion in fiscal year 2026 that ended June 27, 2026.

As the world’s largest food-away-from-home distributor, Sysco offers customized supply chain solutions, bespoke specialty product offerings, and culinary support to drive customers to innovate and optimize their operations. We act as a trusted business partner to our customers, helping them grow through our industry-leading portfolio that includes fresh produce, premium proteins, specialty products, sustainably focused items, equipment and supplies, and innovative culinary solutions.

SYY-INVESTORS

Forward-Looking Statements

Statements made in this press release include statements that are forward-looking or that express management’s beliefs, expectations or hopes and are forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements regarding the terms, timing and completion of the Offering and our anticipated use of the proceeds thereof, statements about our future financial performance and results, business strategy, plans, goals and objectives, and other statements that are not historical facts, including expectations regarding our future growth, including growth in sales and earnings per share, expectations regarding cost savings associated with AI, as well as statements about the expected timing and completion of the proposed transaction with Jetro Restaurant Depot and the anticipated benefits of such proposed transaction.

Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions, including those outside of Sysco’s control. Risks and uncertainties include without limitation: the impact of geopolitical, economic and market conditions and developments, including changes in global trade policies and tariffs and foreign conflicts; risks related to our business initiatives; periods of significant or prolonged inflation or deflation and their impact on our product costs, volume, foot traffic, and profitability generally; risks related to our efforts to implement our transformation initiatives and meet our other long-term strategic objectives; risks of interruption of supplies and increase in product costs; risks related to changes in consumer eating habits; and impact of natural disasters or adverse weather conditions, public health crises, adverse publicity or lack of confidence in our products, and product liability claims as well as risks and uncertainties associated with our proposed transaction with Jetro Restaurant Depot, including but not limited to, the occurrence of any event, change or other circumstances that could give rise to the right of either or both parties to terminate the merger agreement; the risk that regulatory approvals may not be obtained or other closing conditions may not be satisfied in a timely manner or at all, as well as the risk that regulatory approvals are obtained subject to conditions that are not anticipated; the risk of other delays in closing the transaction; the possibility that any of the anticipated benefits and projected synergies of the transaction will not be realized or will not be realized within the expected time period; and the risk that the proposed transaction and its announcement could have an adverse effect on the market price of the common stock of Sysco. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Therefore, you should not place undue reliance on any of the forward-looking statements contained herein. For more information on these risks and other concerning factors that could cause actual results to differ from those expressed or forecasted, see our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC. We do not undertake to update our forward-looking statements, except as required by applicable law.