US Foods Receives Request from FTC for Additional Information Regarding Proposed Merger with Sysco

  US Foods Receives Request from FTC for Additional Information Regarding
  Proposed Merger with Sysco

  Transaction Still Expected to Close in Third Quarter of Calendar Year 2014

Business Wire

ROSEMONT, Ill. -- February 18, 2014

US Foods announced today that it received a request from the Federal Trade
Commission (FTC) for additional information and documentary materials in
connection with its pending merger with Sysco Corporation (NYSE: SYY). The
request was issued under notification requirements of the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 (HSR Act).

Frequently referred to as a “second request,” this is a part of the FTC review
process and was anticipated by both companies. US Foods will work to respond
to the FTC requests as quickly as possible to support the review of the
proposed merger

Completion of the transaction remains subject to regulatory review, including
the expiration or termination of the waiting period under the HSR Act, and
other customary closing conditions. US Foods’ outlook on the merger remains
unchanged and expects the transaction to close in the third quarter of
calendar 2014.

About US Foods

With approximately $22 billion in annual revenue, US Foods is the 10th largest
privately held company in America. As one of America’s great food companies
and leading distributors, US Foods is Keeping Kitchens Cooking and making life
easier for more than 200,000 customers, including independent and multi-unit
restaurants, healthcare and hospitality entities, government and educational
institutions. The company offers more than 350,000 products, including
high-quality, exclusive brands such as the innovative Chef’s Line, a
time-saving, chef-inspired line of scratch-quality products, and Rykoff
Sexton, a premium line of specialty ingredients sourced from around the world.
The company proudly employs approximately 25,000 people in more than 60
locations nationwide. US Foods is headquartered in Rosemont, Ill., and jointly
owned by funds managed by Clayton, Dubilier & Rice Inc. and Kohlberg Kravis
Roberts & Co. Discover more at

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this press release include “forward-looking
statements” that look forward in time or that express beliefs, expectations,
or hopes and are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are all
statements other than statements of historical facts. The words “anticipates,”
“may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,”
“intends,” “likely,” “will,” “should,” “to be” and any similar expressions or
other words of similar meaning are intended to identify those assertions as
forward-looking statements. Forward-looking statements include information
relating to the Company’s expectations regarding the transaction and the
Company’s future prospects and financial position. These statements are based
on the Company’s beliefs and assumptions based on information available at the
time the assumption was made and on management’s experience and perception of
historical trends, current conditions and expected further developments as
well as other factors deemed appropriate in the circumstances. Investors are
cautioned that there are risks and uncertainties related to such
forward-looking statements and actual results may vary. Important factors that
could cause actual results to differ materially from those expressed or
implied by the forward-looking statements contained in this press release
include, without limitation, factors detailed from time to time in the
Company’s periodic reports filed with the Securities and Exchange Commission.
The forward-looking statements contained in this press release are made as of
the date of this press release and the Company assumes no obligation to update
or revise them to reflect new events or circumstances, except as explicitly
required by securities laws.


US Foods
Michelle Calcagni
Senior Director, Corporate Communications
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