<p> Sysco’s CFO and EVP Chris Kreidler will be leading the integration team to execute the merger with US Foods, said Bill DeLaney, Sysco’s President and CEO, during the company’s live ICR XChange Conference webcast. The integration team will include key employees from both companies.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">During the presentation, Kreidler said that the merger will create significant shareholder value, with annual synergies of at least $600 million realized after three to four years and nearly $65 billion generated in annual revenue.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> DeLaney noted that the merger will bring together the best of both Sysco and US Foods. He stated that it will be a transformational acquisition that will benefit all stakeholders, including customers, suppliers, employees, and shareholders. The merger will combine both Sysco and US Foods’ strengths to deliver greater value, more services, and innovation for their customers, while also achieving shared efficiencies with suppliers.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Sysco generated more than $44 billion in sales for its fiscal year ending in June, according to the Houston Chronicle. US Foods has about half the amount of annual revenue.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Last month, Sysco announced it will pay an estimated $3.5 billion for the equity of US Foods, which comprises $3 billion of Sysco common stock and $500 million of cash and will assume or refinance US Foods’ net debt, which is approximately $4.7 billion. The merger must gain regulatory approval, which is expected to take six to nine months.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://investors.sysco.com/Investors/default.aspx" target="_new"> Sysco </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.chron.com/business/retail/article/Sysco-financial-chief-to-lead-integration-efforts-5141560.php" target="_new"> Houston Chronicle </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
