Earlier in the month, Houston, Texas-based food, equipment and restaurant supplies company Sysco Corp. and Rosemont, Illinois-based restaurant supply company US Foods Inc. announced an agreement to merge, creating a world-class foodservice company. The total enterprise value of the transaction is approximately $8.2-billion.  The merger has been approved by the Board of Directors of each company. Bill DeLaney, Sysco President and CEO, will lead the combined company, which will continue to be named Sysco and headquartered in Houston. At closing, Sysco will have estimated annual sales of approximately $65-billion. Sysco will pay approximately $3.5-billion for the equity of US Foods. After completion of the transaction, the equity holders of US Foods will own approximately 87 million shares, or roughly 13 percent of Sysco. A representative of each of US Foods’ majority shareholders, affiliates of Clayton, Dubilier & Rice LLC and Kohlberg Kravis Roberts & Co. L.P., will join Sysco’s Board of Directors upon closing. The transaction is expected to close in the third quarter of calendar year 2014, subject to customary closing conditions and regulatory approvals, including antitrust approval.