US Foods announces stock sale, repurchase

ROSEMONT - US Foods Holding Corp. said Tuesday 17.4 million shares of its common stock is being sold by KKR Fresh Holdings L.P. and is being offered at a price to the public of $39.90 per share.

US Foods will not receive any proceeds from the sale by KKR. However, US Foods has agreed to repurchase approximately $150 million of its own shares at the same per share price to be paid by the underwriter to KKR. Morgan Stanley is acting as the sole underwriter for the stock offering.

The offering is expected to close on or about May 26, the company said.

US Foods is one of the nation's largest food companies and food service distributors, partnering with approximately 250,000 restaurants and food service businesses. It operators 70 distribution centers and more than 85 cash-and-carry stores.