Sysco to buy London-based Brakes Group for $3.1 billion

February 22, 2016 1:28 PM

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Sysco Corp (SYY.N), the largest U.S. food distributor, said it will buy London-based food distributor Brakes Group from Bain Capital Private Equity in a transaction valued at about $3.1 billion to strengthen its presence in Europe.

The deal, which is expected to immediately add to earnings, includes the repayment of about $2.3 billion of Brakes' debt, Sysco said in a statement..

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