You may not recognize these companies’ names, but they supply restaurants ranging from prison cafeterias to the fanciest restaurants with the basics that they need to cook food for their customers. Some restaurants (not necessarily good restaurants, but you’d be surprised) simply serve prepared or frozen meals from these companies as-is.
While the private equity firms that own US Foods would have preferred a simple sale of the company, instead the wholesaler will receive a cash infusion, and the two owners will continue to hold substantial and equal amounts of stock in the company.
US Foods filed with the Securities and Exchange Commission this week about their intentions, setting a $100 million target for the IPO. That won’t necessarily be the final figure that they raise, but was a broad estimate for the SEC’ sake.