Sysco (SYY) shares were hit hard on March 30 after the food distribution company said it’s spending $29 billion on buying Jetro, a “cash and carry” heavyweight that owns Restaurant Depot. In a post-announcement interview with CNBC, CEO Kevin Hourican dubbed Jetro a “gem of an asset,” but integration risks and the sheer size of this deal still made investors bail on SYY today.
At the time of writing, Sysco stock is trading at a more than 20% discount to its year-to-date high.
