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US Foods to acquire Smart Foodservice for $970 million

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March 13, 2020

US Foods Holding Corp. has agreed to acquire Smart Foodservice Warehouse Stores from funds managed by affiliates of Apollo Global Management, Inc. for $970 million in cash, according to a press release.

Smart Foodservice operates 70 small-format cash and carry stores across California, Washington, Oregon, Idaho, Nevada, Utah and Montana, which serve foodservice customers with an assortment of products. Founded in 1955 and headquartered in the greater Portland, Oregon area, Smart Foodservice employs approximately 900 workers. The company had 2019 revenue of about $1.1 billion.