Sysco prices common stock offering at $1 billion to fund acquisition

Sysco Corporation (SYY) said Tuesday it priced an offering of 12,345,679 shares of common stock at a public offering price of $81.00 per share. The offering closed Tuesday, according to a regulatory filing.

Key takeaways

• Sysco offered 12,345,679 shares of common stock at $81.00 per share.
• Underwriters received a 30-day option to buy up to 1,851,851 additional shares.
• Net proceeds reached approximately $967.4 million after discounts and expenses.
• The offering closed on September 16, 2026.

Underwriting and proceeds

Sysco entered into an underwriting agreement with Goldman Sachs & Co. LLC, TD Securities (USA) LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC as representatives for the several underwriters. The company granted the underwriters a 30-day option to purchase up to an additional 1,851,851 shares of common stock to cover overallotments.

The net proceeds from the offering were approximately $967.4 million after deducting underwriting discounts, commissions, and estimated offering expenses. Sysco expects to use the net proceeds to pay a portion of the cash consideration for its pending acquisition of JRD Unico, Inc. and Warehouse Realty, LLC, along with related fees, costs, and expenses.

Registration details

The common stock was offered and sold under a registration statement on Form S-3 and is described in a prospectus supplement dated September 14, 2026. Paul, Weiss, Rifkind, Wharton & Garrison LLP provided a legal opinion as to the legality of the common stock sold in the offering.

By the numbers

Closing terms and acquisition funding

The underwriting agreement contains customary representations, warranties, covenants, agreements, and closing conditions. The proceeds allocation is tied directly to the pending acquisition of JRD Unico, Inc. and Warehouse Realty, LLC, which remains subject to the completion of transaction terms.