Deals this week: Sysco Corporation, US Foods, GBS Travel and FoodTech

Sysco Corporation has announced plans to raise an investment by issuing senior notes with a five-year maturity through a public offering.

The marketer and distributor of foodservice products will secure €500m ($563.23m) through the senior note offering bearing an interest rate of 1.250% a year, payable annually.

US Foods will raise $600m in net proceeds in a private offering of senior notes carrying a coupon rate of 5.875%.

The notes have an eight-year maturity period and will be guaranteed on a senior unsecured basis by the company’s domestic subsidiaries.

GBS Travel and FoodTech has secured an undisclosed round of funding from Hyderabad-based investment platform 50K Ventures.

GBS Travel and FoodTech operates as KhanaGaDi.com, an online food ordering platform for train travellers.

The company plans to use the funds to expand its business, recruit more employees and promote its offerings.

Nestle Italiana will sell its six Italian confectionary brands to FIDA in a transaction that is expected to be closed by the end of this month.

Italian manufacturer and distributor of fruit-flavoured confectionary FIDA will acquire Rossana, Fondenti, Glacia, Fruttallegre, Lemoncella e and Spicchi from Nestle Italiana.

Detroit-based private equity firm Superior Capital Partners has sold Dianne’s Fine Desserts to Geneva Glen Capital.

Dianne’s Fine Desserts is a leading supplier of premium frozen thaw-and-serve desserts and offers a varied product range, including cheesecakes, layer cakes, pies and tarts, brownies/bars, and individual mini and speciality desserts.

According to the terms of the transaction, the management team of Dianne’s will control a significant equity stake in the company.

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Image: Dianne’s Fine Desserts’ product line includes cheesecakes, layer cakes, pies and tarts, brownies/bars, and individual minis. Photo: courtesy of zingyyellow via Wikipedia.