KKR to acquire a minority stake in US Foods for $500m.

KKR agreed to acquire a minority stake in US Foods, an American food company and a foodservice distributor, for $500m. On an as-converted basis, the preferred stock will represent approximately 9.6% of pro forma common shares outstanding. “We are pleased to see KKR return as a shareholder of US Foods as we seek to further fortify our balance sheet during the current difficult environment. KKR will be a valuable partner for us as we continue to focus on our associates, customers, communities and shareholders as the impacts of COVID-19 unfold. This transaction positions us to continue to build on our strengths as the environment improves over time,” Pietro Satriano, US Foods Chairman and CEO.