Sysco (SYY) just made its biggest bet in years. On March 30, the largest U.S. foodservice distributor announced a $29.1 billion acquisition of Jetro Restaurant Depot, propelling it into the high-margin cash-and-carry channel serving smaller independent operators.
The deal instantly boosts Sysco’s scale but has triggered a sharp selloff. SYY stock plunged 15% intraday on March 30, marking the largest single-day percentage decline since the March 2020 Covid-19 crash.
