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US Foods lists IPO on the New York Stock Exchange

FBR Staff Writer Published 30 May 2016

US Foods Holding Corp. (US Foods), a foodservice distributor in the US, has begun trading on the New York Stock Exchange (NYSE) under the ticker symbol “USFD,” after its initial public offering.

US Foods raised $1.02 billion in gross proceeds and is the second U.S. IPO in 2016 to raise over $1 billion in proceeds, following MGM Growth Properties (NYSE: MGP), which listed in April. GTS is the NYSE Designated Market Maker (DMM) for the company's shares.

To mark US Foods' public debut, President and CEO Pietro Satriano, accompanied by members of US Foods' management committee, rang The Opening Bell® and visited the company's DMM on the NYSE trading floor to observe the opening of USFD.

The celebration continued outside the NYSE in "Experience Square" with the recreation of a restaurant kitchen beneath the NYSE façade. The nearly 50 foot line was designed to underscore the company's focus on bringing great food and an easy customer experience to foodservice operators and shine a spotlight on independent restaurants.

"Our strategy of Great Food. Made Easy. is all about addressing and exceeding the needs and expectations of the independent restaurant customer and helping them to grow their business," said Marshall Warkentin, senior vice president, Marketing, US Foods. "From delivering new, innovative products to offering game-changing technology, US Foods is committed to helping restaurant owners, chefs and foodservice professionals make it in this tough industry."

Five US Foods independent restaurant customers from different corners of the country were present to serve their signature bite from this one of a kind kitchen. The chefs represented different regions of the country and each cooked up the dish that best represents their restaurant.

The chefs include:

Cristy Nolton - culinary director, Yeah Burger, Atlanta, GA
Donna Lee - owner, Brown Bag Seafood in Chicago, IL
Brian Ellis - executive chef, The Smith, New York, NY
Taion McElveen - chef, Eschelon Experiences, Raleigh, NC
Kenneth Danko - chef/owner, Devilicious, Temecula, CA

"We couldn't imagine celebrating the listing of our company on the NYSE without sharing the spotlight with some of the most passionate restaurant owners and chefs who work tirelessly to deliver amazing dishes to America's tables," Warkentin said.

"We're delighted to welcome US Foods Holding Corp. to the NYSE's community of esteemed companies," said Tom Farley, NYSE Group President. "US Foods is a distinguished leader in food distribution, inspiring and empowering its partners to deliver best-in-class dining experiences, as well as offering an array of innovative products including technology and business solutions. We congratulate the US Foods team on its IPO, and we are proud to mark this exciting new chapter for the company and its shareholders."

The NYSE is home to many of the world's most iconic brands, technology business leaders and emerging growth companies shaping today's global economic landscape.


Source: Company Press Release