US Foods Announces $211 Million Repurchase of Shares From Sachem Head Capital Management LP

US Foods Holding Corp. (NYSE: USFD), one of America’s largest foodservice distributors, announced that it entered into a Purchase Agreement (“Purchase Agreement”) to repurchase approximately $211 million of the Company’s common shares beneficially owned by a fund managed by Sachem Head Capital Management LP (“Sachem Head”), at a purchase price of $52.28 per share and inclusive of approximately $2 million of excise taxes. The purchase of the shares is a part of the Company’s $1 billion share repurchase program authorized on June 1, 2024. The Company has approximately $691 million in remaining funds authorized.

“Today’s $211 million share repurchase reflects continued confidence in our strategy and our ability to execute our long-range plan and achieve our financial targets,” said Dave Flitman, CEO. “We remain laser-focused on improving the business to generate profitable growth and capture share in our target customer types, while executing our capital deployment priorities. Given our strong execution and confidence in our ability to deliver our 2027 financial targets, we believe our shares remain significantly undervalued. As a result, we will be more aggressive buying back our shares over the balance of this year.”

“US Foods continues to make incredible progress under Dave’s strategic leadership and his strong team,” said Scott Ferguson, Founder and Managing Partner, Sachem Head. “I am confident in their ability to grow profitability over the long term. We remain substantial shareholders of the Company and believe there is a bright future ahead for US Foods.”

About US Foods

With a promise to help its customers Make It, US Foods is one of America’s great food companies and a leading foodservice distributor, partnering with approximately 250,000 restaurants and foodservice operators to help their businesses succeed. With more than 70 broadline locations and approximately 90 cash and carry stores, US Foods and its 30,000 associates provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. US Foods is headquartered in Rosemont, Ill. Visit www.usfoods.com to learn more.

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