• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Sachem Head owns US Foods stake, plans to push for changes

October 8, 2021 by David Barret Leave a Comment

October 8, 2021

By Svea Herbst-Bayliss

NEW YORK (Reuters) – Investment firm Sachem Head Capital Management LP said on Thursday that it owns a stake in US Foods Holding Corp and plans to push for changes at the food service company.

Sachem Head said it is being advised by food industry veteran Bernardo Hees, who was until 2019 the CEO of the Kraft Heinz Co.

In a regulatory filing, the New York-based investment firm said it owns 5.1% of the company’s common shares and a 4.1% stake in cash settled swaps, making for an economic exposure of 9.2%.

The firm, run by Scott Ferguson, plans to hold discussions with the company’s board and management but declined to say exactly what kind of changes it would like to see at the company, whose brands include Cross Valley Farms fresh produce and Devonshire bakery products.

The stock price closed at $37.28.

Its main competitors are Sysco Corp. and Performance Food Group.

Hees is currently working for Sachem Head as an advisor and has agreed to serve as a potential nominee to the board. But Sachem Head has not yet said whether it plans to nominate directors to the company’s 10-member board.

Pietro Satriano, US Foods’ current CEO and chairman, joined the company in 2011 and was appointed chairman in 2017.

Ferguson recently challenged International Flavors & Fragrances, where he nominated four directors to the board and pushed the company to improve its financial performance. After the two sides reached a settlement, IFF’s long-serving CEO, Andreas Fibig, last month announced plans to retire but said he would stay on until a replacement is found.

Sachem Head owns stakes in fewer than 30 companies, with IFF and animal health company Elanco, where Ferguson was invited onto the board late in 2020, making up the bulk the portfolio.

(Reporting by Svea Herbst-Bayliss; Editing by Sonya Hepinstall)

Source Link Sachem Head owns US Foods stake, plans to push for changes

David Barret
David Barret

Related posts:

  1. Goldman Sachs hires McKinsey partner as co-head of Asia region
  2. DiCaprio invests in cultivated meat start-ups Mosa Meat, Aleph Farms
  3. The NFT on-ramp is still too steep
  4. Bitcoin hits $50k for first time in four weeks

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Martian Mudstone Has Features That Might Be Biosignatures, New Brain Implant Can Decode Your Internal Monologue, And Much More This Week
  • Crocodiles Weren’t All Blood-Thirsty Killers, Some Evolved To Be Plant-Eating Vegetarians
  • Stratospheric Warming Event May Be Unfolding In The Southern Polar Vortex, Shaking Up Global Weather Systems
  • 15 Years Ago, Bees In Brooklyn Appeared Red After Snacking Where They Shouldn’t
  • Carnian Pluvial Event: It Rained For 2 Million Years — And It Changed Planet Earth Forever
  • There’s Volcanic Unrest At The Campi Flegrei Caldera – Here’s What We Know
  • The “Rumpelstiltskin Effect”: When Just Getting A Diagnosis Is Enough To Start The Healing
  • In 1962, A Boy Found A Radioactive Capsule And Brought It Inside His House — With Tragic Results
  • This Cute Creature Has One Of The Largest Genomes Of Any Mammal, With 114 Chromosomes
  • Little Air And Dramatic Evolutionary Changes Await Future Humans On Mars
  • “Black Hole Stars” Might Solve Unexplained JWST Discovery
  • Pretty In Purple: Why Do Some Otters Have Purple Teeth And Bones? It’s All Down To Their Spiky Diets
  • The World’s Largest Carnivoran Is A 3,600-Kilogram Giant That Weighs More Than Your Car
  • Devastating “Rogue Waves” Finally Have An Explanation
  • Meet The “Masked Seducer”, A Unique Bat With A Never-Before-Seen Courtship Display
  • Alaska’s Salmon River Is Turning Orange – And It’s A Stark Warning
  • Meet The Heaviest Jelly In The Seas, Weighing Over Twice As Much As A Grand Piano
  • For The First Time, We’ve Found Evidence Climate Change Is Attracting Invasive Species To Canadian Arctic
  • What Are Microfiber Cloths, And How Do They Clean So Well?
  • Stowaway Rat That Hopped On A Flight From Miami Was A “Wake-Up Call” For Global Health
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version