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| US Foods sets terms for $1 billion IPO |
US Foods Holding, the second-largest US foodservice distributor, announced terms for its IPO on Friday.
The Rosemont, IL-based company plans to raise $1.0 billion by offering 44.4 million shares at a price range of $21 to $24. At the midpoint of the proposed range, US Foods Holding would command a fully diluted market value of $4.9 billion.
US Foods was founded in 1853 and booked $23.2 billion in sales for the 12 months ended March 31, 2016. It plans to list on the NYSE under the symbol USFD. Goldman Sachs, Morgan Stanley, J.P. Morgan, BofA Merrill Lynch, Citi, Credit Suisse, Deutsche Bank, Wells Fargo Securities and KKR are the joint book runner on the deal. It is expected to price during the week of May 23, 2016.
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