NEW YORK — Kohlberg Kravis Roberts and Clayton, Dubilier & Rice here said Tuesday that they have completed the previously announced acquisition of U.S. Foodservice from Amsterdam-based retailer Ahold. Funds affiliated with KKR and CD&R are equal partners in the transaction, which is valued at $7.1 billion. “We look forward to working with U.S. Foodservice’s strong management team to continue to drive operating performance improvements,” Charles A. Banks, chairman of the board of U.S. Foodservice and a CD&R operating partner, said in a statement. “The company’s leadership position in the highly fragmented food-service industry provides attractive organic and acquisition-related growth opportunities.” U.S. Foodservice recently postponed a debt offering that was to help finance its purchase due to market conditions.
Read More of Today's Headlines