Sysco to Acquire European Food Distributor Brakes From Bain

Sysco Corp. agreed to buy food-service distributor Brakes Group from private equity firm Bain Capital in a $3.1 billion deal, including $2.3 billion in debt, giving the company a bigger foothold in Europe.

Brakes had sales of about $5 billion last year, and the combined company will generate roughly $55 billion, Houston-based Sysco said in a statement Monday. The acquisition is slated to be completed before the end of Sysco’s fiscal year in July.