Billionaire Kirsh to Sell Restaurant Depot for $29 Billion

Nathan “Natie” Kirsh, the billionaire owner of a closely held company crucial to US restaurants, is selling his business that began with a single warehouse in Brooklyn, New York, in a deal that will create one of the largest food-service groups in the country.

Sysco Corp. is acquiring Jetro Restaurant Depot LLC for $29.1 billion including debt, the companies said Monday. Jetro shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. The deal represents a multiple of more than 14 times Jetro’s operating income.