US Foods Files for IPO of Roughly $100 Million

US Foods Holding Corp. filed plans for a roughly $100 million initial public offering of its shares, following its failed effort to be acquired by Sysco Corp.

Rival Sysco dropped its more than year-and-a-half effort to buy US Foods in June after a federal judge ruled against the proposed merger of the companies amid concerns it would harm competition. Sysco, the nation's largest purveyor of food and other supplies to restaurants and cafeterias, disclosed its $3.5 billion bid for US Foods in December 2013.

US Foods didn't include specific financial terms of the IPO in its filing with the U.S. Securities and Exchange Commission. The $100 million is a preliminary placeholder used to calculate registration fees and is subject to change. The company said it would use the proceeds from the IPO to repay debt and for other purposes.

US Foods said that after the IPO, its biggest stockholders, Clayton Dubilier & Rice LLC and KKR & Co., each of which has a stake of roughly 49.3%, would maintain control of the company.

In its regulatory filing, US Foods said that it is the second-largest food service distributor in the U.S., with a market share of roughly 9%, in the fragmented and growing sector. For the 12-month period ended Sept. 26, US Foods said it posted net sales of $23 billion.

US Foods said it intends to list its stock on The New York Stock Exchange under the ticker symbol "USFD."

Write to Tess Stynes at [e-mail]

(END) Dow Jones Newswires

February 09, 2016 18:35 ET (23:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.