US Foods Holding Corp. has announced the pricing of a registered secondary offering of its common stock. The offering involves the sale of 17,425,053 shares by KKR Fresh Holdings L.P., the selling stockholder, at a price of $39.90 per share.
US Foods will not receive any proceeds from the sale. Morgan Stanley is serving as the sole underwriter for the offering, which is expected to close on or about May 26, 2023. In addition, US Foods has agreed to repurchase approximately $150 million worth of the shares being offered at the same price paid by the underwriter. The selling stockholder will no longer own any common stock or Series A Convertible Preferred Stock of US Foods after the offering is completed.
US Foods is a leading foodservice distributor, partnering with numerous restaurants and foodservice operators. The company provides a wide range of food offerings and business solutions to its customers.