NEW YORK (Diya TV) — A reclusive 94-year-old billionaire has closed one of the biggest deals in the global food distribution industry. Nathan “Natie” Kirsh, the founder of Jetro Holdings and Restaurant Depot, has agreed to sell his U.S. food empire to Sysco for $29.1 billion. The deal marks a major shift in the wholesale food market. It also highlights the legacy of a businessman who built a multibillion-dollar company from a single warehouse in Brooklyn.
Sysco, the largest food distributor in the United States, announced the agreement on March 30. The company will acquire Jetro Holdings in a transaction valued at $29.1 billion. The deal includes $21.6 billion in cash and 91.5 million shares of Sysco stock. This structure allows Kirsh and other stakeholders to retain a stake in the company’s future growth. The acquisition ranks among the largest in the food supply sector in recent years. It reflects growing consolidation in the industry as major players seek to expand their reach.
Kirsh founded Jetro Cash & Carry in 1976 after moving to New York. He started with a simple idea. He wanted to help small retailers access bulk goods at lower prices. He launched the business from a warehouse in Brooklyn. Over time, he expanded the model across the country. In 1994, he acquired Restaurant Depot, which focused on serving independent restaurants.
The two brands worked side by side. They built a strong customer base of small businesses, caterers, and local retailers. Today, Restaurant Depot operates 166 stores across 35 states. The company generates about $16 billion in annual revenue. It has become a dominant force in the cash-and-carry food supply market.
Sysco has long focused on large clients such as hotels, hospitals, and chain restaurants. The acquisition of Jetro Holdings changes that strategy. The deal gives Sysco access to independent restaurants and small businesses. These customers often deliver higher profit margins and steady demand.
Sysco said the acquisition will help it grow in faster-moving markets. The company expects to improve distribution efficiency and increase purchasing power. Industry analysts believe the move will strengthen Sysco’s position in a competitive sector. They also see potential for long-term revenue growth as the companies combine operations.
Kirsh began his career in South Africa’s grain and food industry. He worked in milling and distribution before moving into wholesale trade. He saw early success with the cash-and-carry model. This approach allowed customers to buy goods in bulk and pay upfront, reducing costs. When he moved to the United States, he applied the same concept. He targeted a fragmented market of small retailers who needed reliable suppliers.
His strategy worked. He focused on efficiency, low prices, and strong relationships with customers. Over the decades, he built a nationwide business. Despite his success, Kirsh maintained a low public profile. He rarely appeared in the media and kept his business operations private.
The scale of the deal stands out. At roughly $29.1 billion, it reflects the strength of the food distribution market. It also shows the value of businesses that serve independent operators. However, the acquisition raises questions. Some experts worry about the future of small businesses in a consolidating industry.
Restaurant Depot has long supported independent restaurants with flexible purchasing options. Larger corporations do not always offer the same level of accessibility. Regulators will review the deal before it closes. Officials are expected to examine its impact on competition and pricing.
