March 6, 2020 / 2:13 PM / a month ago

US Foods to buy Smart Foodservice for $970 million

March 6 (Reuters) - Food distribution company US Foods Holding Corp said on Friday it would buy Smart Foodservice Warehouse Stores from private equity firm Apollo Global Management Inc for $970 million in cash.

Smart Foodservice operates 70 cash-and-carry stores in the United States, which cater to small and mid-sized restaurants.

US Foods said it will finance the acquisition mainily with $700 million in loans from Citigroup and Bank of America. (Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)

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