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94-Year-Old South African Billionaire Sells Food Empire for $29.1B
Reclusive Jetro Restaurant Depot founder Nathan 'Natie' Kirsh clinches massive deal with Sysco
Mar. 31, 2026 at 7:19pm
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The $29.1 billion sale of Jetro Restaurant Depot represents one of the largest deals in the food distribution industry, capping the remarkable rise of a reclusive South African billionaire.NYC TodayA 94-year-old South African billionaire named Nathan 'Natie' Kirsh has sold his food distribution empire, Jetro Restaurant Depot, to Sysco for $29.1 billion. Kirsh grew the business from a single Brooklyn warehouse 50 years ago into a restaurant-supply behemoth with 166 stores across 25 states and $16 billion in annual revenue.
Why it matters
This deal represents one of the largest acquisitions in the food distribution industry, highlighting the continued consolidation and evolution of the sector. Kirsh's reclusive business approach and pioneering 'cash-and-carry' model also provide insights into how smaller players can disrupt the traditional food supply chain.
The details
Jetro Restaurant Depot was founded by Kirsh in 1976 in a Brooklyn warehouse, using a 'cash-and-carry' model that allowed small restaurant owners to visit warehouses and pick up supplies at any time. Over the decades, Kirsh grew the company into one of the largest food distributors in the U.S. through acquisitions like the 1994 purchase of Restaurant Depot. Sysco, the nation's largest food distributor, will now acquire Jetro in a $29.1 billion deal, with Kirsh owning around 70% of the company.
- Jetro Cash & Carry was founded by Kirsh in 1976 in Brooklyn.
- Kirsh acquired Restaurant Depot in 1994, operating the two companies under Jetro Holdings.
- Sysco announced it will acquire Jetro Restaurant Depot for $29.1 billion on March 31, 2026.
The players
Nathan 'Natie' Kirsh
A 94-year-old South African billionaire who founded Jetro Restaurant Depot in 1976 and grew it into a $16 billion food distribution empire before selling it to Sysco for $29.1 billion.
Sysco
The nation's largest food distributor, which announced it will acquire Jetro Restaurant Depot in a $29.1 billion deal.
Richard Kirschner
The current chief executive and president of Jetro.
Stanley Fleishman
The former longtime CEO of Jetro who has stayed on as executive chairman.
Linda Mirels
Kirsh's daughter who serves as president of the UJA-Federation of New York, a nonprofit that combats antisemitism.
What they’re saying
“We literally have no competition.”
— Nathan 'Natie' Kirsh, Jetro Founder
“I went to see how these little stores in New York got their supplies, and I really thought it was very rudimentary and not very efficient.”
— Nathan 'Natie' Kirsh, Jetro Founder
What’s next
The deal is expected to close in the third quarter of 2026, pending regulatory approval.
The takeaway
Kirsh's reclusive business approach and pioneering 'cash-and-carry' model disrupted the traditional food distribution industry, allowing his Jetro empire to grow into a $16 billion powerhouse. This massive $29.1 billion acquisition by Sysco highlights the ongoing consolidation and evolution of the sector as larger players seek to gain scale and efficiency.
