Sysco Corp., North America's largest food distributor to restaurants, will acquire rival US Foods in a stock and cash deal valued at $3.5 billion, the companies said Monday. The deal will give Sysco greater geographical reach and new brands including Cattleman's meat and Devonshire desserts, and create cost-savings along with combined annual sales of about $65 billion. Sysco CEO Bill DeLaney will head the merged company.

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