Kevin Hourican on tariffs
From Sysco CEO on tariffs' impact on the food industry · · CNBC Television
“95% of food in every country we compete in is bought within that country. Food is an inherently local commodity. So 95% purchased within country, which greatly decreases that tariff headwind on our business.”
On , Kevin Hourican, Chief Executive Officer & Chairman at Sysco Corp, spoke about tariffs during Sysco CEO on tariffs' impact on the food industry on CNBC Television.
About Kevin Hourican
Kevin Hourican, chairman and CEO of Sysco, discussed the company's $29 billion acquisition of Jetro Restaurant Depot in a March 31, 2026 interview on CNBC's "Squawk Box." Hourican described Restaurant Depot as "the gem of an asset" and a "one-stop shop warehouse store for restaurants seeking value and lower prices," noting that customers save 15 to 20% by shopping there instead of having food delivered. He stated that Sysco plans to leverage its supply chain to open 125 net new Restaurant Depot locations over the next two decades, which he characterized as "decades of growth." Hourican also addressed the financial outlook for the combined company, projecting that Sysco's revenue would reach $100 billion with an operating margin of 6%. He said that by year four, the deal would generate $2 billion of excess free cash flow that could be returned to investors through dividends and share buybacks. Hourican emphasized that the acquisition is "day one accretive" and brings a "double digit operating margin business" into Sysco.