US Foods Acquiring IWC Food Service
Foodservice distributor US Foods Holding Corp. has agreed to acquire IWC Food Service, a broadline distributor based in Cookeville, Tenn. The transaction, part of US Foods’ tuck-in acquisition strategy, will enable the company to expand its reach into central Tennessee, where the company doesn’t currently have a distribution center.
With more than $200 million in annual revenue, family-owned IWC serves 2,700-plus independent restaurants, which account for more than half of its business, as well as other customers. IWC will continue to operate in the 160,000-square-foot facility where it currently conducts business and will also continue service at the local Cookeville Cash-and-Carry store.
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“We are excited to welcome the dedicated IWC Food Service associates to US Foods as we continue to strategically grow the US Foods footprint and help new and existing customers throughout the region Make It,” said Dave Flitman, CEO of Rosemont, Ill.-based US Foods. “With a heritage of putting innovation, quality and integrity at the forefront of their commitment to their customers, IWC Food Service has maintained a superior reputation throughout the central Tennessee region, and we look forward to investing in the continued growth of the business after close.”
“This is an exciting day for IWC Food Service, and we look forward to combining the strengths of our two companies at close to continue bringing our valued customers the service, solutions and tools they need to help them thrive and succeed,” added IWC President Bob Mackie. “We are honored to be joining US Foods and welcome their continued investment in IWC Food Service and the dedicated and inspired associates who successfully support our business each day. Our father, Jimmy W. Mackie, founder and CEO emeritus, started this company more than 60 years ago with the understanding that operating as a company comprised of people you can depend on would drive our continued success, and he is as proud as we are to reach this milestone.”
Pending regulatory approval, the acquisition is expected to close in the second quarter of 2024. Terms of the transaction weren’t disclosed.
US Foods partners with about 250,000 restaurants and foodservice operators. With 70 broadline locations and more than 90 cash-and-carry stores, the company and its 30,000 associates provide customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions.
