Subsequent to quarter-end, the company has signed a definitive agreement to acquire IWC Food Service, a broadline distributor which serves the greater Nashville area. IWC has approximately 220 associates and $200M in annual sales. Pending regulatory approval, the company is targeting to close the transaction in the second quarter of 2024. During the fourth quarter of fiscal 2023, the company acquired Saladino’s Foodservice, an independently owned broadline distributor based in central California for a purchase price of $56M.
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