US Foods is taking its first step towards its initial public offering (IPO) by filing a proposal with the Securities and Exchange Commission (SEC).
As of the time of this writing, the number of shares and the price range for the offering is still unclear. A report from Fortune, however, indicates that US Foods plans to raise $100 million, but that number could increase as more information is revealed.
The foodservice distributor will trade on the New York Stock Exchange under the ticker symbol USFD. According to Fortune, US Foods currently pulls in $23 billion in annual revenue.
Just this past December, the company made headlines when it announced the acquisition of foodservice distributor Dierks Waukesha and doubled the size of its 123,000-square-foot facility in Fife, Washington.
US Foods states in a press release that the registration statement is not yet in effect and will not be open for offers until it is effective.
A copy can be obtained for free from the book-running manager of the IPO when it is made available. Stay tuned as we continue to follow this developing story.
