Houston food giant Sysco to acquire competitor in $29 billion deal

Mergers & Acquisitions

Sysco is striking a major deal. Photo by Brandon Bell/Getty Images

Sysco, the nation's largest food distributor, will acquire supplier Restaurant Depot in a deal worth more than $29 billion.

The acquisition would create a closer link between Sysco and its customers that right now turn to Restaurant Depot for supplies needed quickly in an industry segment known as “cash-and-carry wholesale.”

Sysco, based in Houston, serves more than 700,000 restaurants, hospitals, schools, and hotels, supplying them with everything from butter and eggs to napkins. Those goods are typically acquired ahead of time based on how much traffic that restaurants typically see.

Restaurant Depot offers memberships to mom-and-pop restaurants and other businesses, giving them access to warehouses stocked with supplies for when they run short of what they've purchased from suppliers like Sysco.

It is a fast growing and high-margin segment that will likely mean thousands of restaurants will rely increasingly on Sysco for day-to-day needs.

Restaurant Depot shareholders will receive $21.6 billion in cash and 91.5 million Sysco shares. Based on Sysco’s closing share price of $81.80 as of March 27, 2026, the deal has an enterprise value of about $29.1 billion.

Restaurant Depot was founded in Brooklyn in 1976. The family-run business then known as Jetro Restaurant Depot, has become the nation's largest cash-and-carry wholesaler.

The boards of both companies have approved the acquisition, but it would still need regulatory approval.

Shares of Sysco Corp. tumbled 13% Monday to $71.26, an initial decline some industry analysts expected given the cost of the deal.

Cart.com has acquired OceanX, adding two new facilities and expanding its logistics network to enhance efficiency and support high-volume beauty, wellness, and lifestyle brands. Photo courtesy of Cart.com

Houston e-commerce platform expands logistics network with acquisition of fulfillment operations arm

M&A move

A Houston e-commerce unicorn has made its latest strategic acquisition.

Cart.com, which operates a multichannel commerce platform, announced that it has acquired Guthy-Renker's wholly-owned fulfillment operations arm OceanX. The terms of the deal were not disclosed. Around 200 OceanX employees will be assumed onto the Cart.com team, and the fast-growing company will add two new facilities totaling over 600,000 square feet to its network, expanding to include a West Coast distribution hub in Southern California and its third facility near Columbus, Ohio.

"Acquiring OceanX is part of Cart.com’s strategy to continue to scale our platform and capabilities across industries, leveraging our proprietary technology to improve efficiency and deliver superior results to our clients and their customers,” Omair Tariq, Cart.com founder and CEO, says in a news release. “By deploying our Constellation OMS and WMS software and seasoned operations team across these two new facilities, we will improve order visibility, labor efficiency, shipping costs and customer satisfaction for the benefit of our new clients.”

Cart.com now has 17 omnichannel fulfillment and distribution centers with around 10 million square feet and more than 1,600 team members, according to the company.

With the transition, Guthy-Renker's Co-Founder and Co-Chairman Bill Guthy will serve as a strategic adviser to Cart.com.

The move broadens Cart.com's presence in the high-volume beauty, wellness, and lifestyle industries, and the company now will work with supply chains from numerous brands, including Meaningful Beauty, The Body Firm, Smileactives, and Westmore Beauty.

“Cart.com has built a comprehensive, enterprise-grade logistics network with modern, digital capabilities that offer unparalleled visibility, control and efficiency for our brands,” Rick Odum, CEO of Guthy-Renker, says in the release. “This partnership will marry our own channel and marketing expertise with their track record of driving growth and savings for high-volume, high-SKU brands, supercharging performance across our portfolio.”

Earlier this year Cart.com secured $105 million in debt refinancing from investment manager BlackRock and a $25 million series C extension round.

In April, the company acquired an Amazon partner, Ohio-based Amify, a company that provides optimization and advertising solutions

Houston-based Galen Data, a provider of cloud-based connectivity software for medical devices, has been acquired. Photo via Getty Images

Houston startup acquired, plans to expand global medical device software solutions

exit this way

Houston-based Galen Data, a provider of cloud-based connectivity software for medical devices, has been acquired by health care-focused asset manager Lauxera Capital Partners. Financial terms weren’t disclosed.

Lauxera, based in France, says the Galen Data acquisition complements its 2022 purchase of Germany-based Matrix Requirements, a provider of software for medical device R&D and quality control teams.

“The Galen team has built an exceptional product providing medical device companies a cost-effective, compliant, and secure solution for medical device cloud connectivity,” Samuel Levy, founding partner of Lauxera, says in a news release.

Chris DuPont, co-founder and CEO of Galen Data, says the Lauxera deal “empowers us to take our business to the next level and better serve our clients while pushing forward the innovation that’s at the core of everything we do.”

Chris DuPont is the co-founder and CEO of Galen Data. Photo via LinkedIn

Galen Data had raised $7.21 million in venture capital since its founding in 2016, according to PitchBook. Investors included the Texas HALO Fund, the Houston Angel Network, Tamiami Angel Fund IV, and Zeeland Ventures. As of November 2023, Galen Data was valued at $18 million, according to Dealroom.co.

Customers of Galen Data include Austin-based Cardi/o, Houston-based Delphi Diagnostics, Houston-based Future Caridia, Austin-based Harmonic Bionics, Houston-based Tienovix, and Houston-based Zibrio.

Houston-based ROGII has acquired a new software to integrate into its platform. Photo via ROGII.com

Houston software provider makes strategic acquisition to expand platform

growing biz

An advanced geosteering, geoscience, and drilling software solutions company based in Houston has announced the acquisition of of a software platform.

ROGII plans to acquire TerraSLS's TLog Mudlog Editor software, which is used to generate vertical, and horizontal striplogs for use by geologists. The acquisition “will significantly enhance ROGII's product offerings by providing operators and clients with unprecedented real-time connectivity to mudlogging data,” according to ROGII. Mudlogging is a process that involves examining the cuttings of rock brought to the surface by the drilling.

“Our acquisition of TLog marks another step forward in our mission to deliver the most advanced, real-time data solutions to the oil and gas industry,” CEO of ROGII Igor B. Uvarov says in a news release. “The integration of TLog’s capabilities into our Solo Cloud platform will revolutionize the way operators and mudlogging service companies interact, making mudlogging a truly real-time process and driving greater efficiency and collaboration.”

One way it works is that ROGII will integrate TLog into its Solo Cloud platform, which will advance mudlogging data. This gathers it all into a real-time data exchange between mudlogging service companies and its operators.

The integration will allow operators to monitor mudlogging activities in real-time, which means a possible faster and more informed decision-making processes. The user will get immediate access to data, which can help enhance collaboration and improve efficiency. In addition, the mudlogging data will be safely stored on Solo Cloud for future analysis and data integration, which assists with maintaining integrity of the data.

“We look forward to investing in further development of TLog, increasing user-friendliness, expanding adoption worldwide, and making it the industry standard, being used by all mudlogging service companies,” Uvarov adds.

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This article originally ran on EnergyCapital.

A Houston company has acquired a data analytics business. Photo via Getty Images

KBR to acquire data analytics co. in $737M deal to better serve national security issues

M&A

Houston-based KBR announced it has entered into a definitive agreement to acquire engineering, data analytics and digital integration company LinQuest Corp., which will add “digital integration capabilities for national security customers” according to a news release. The deal is valued at $737 million.

LinQuest is known for assisting in solving complex technical challenges for national security missions and has supported the U.S. Space Force, U.S. Air Force and other U.S. Department of Defense and intelligence agencies. The company does this through development and integrating advanced technology solutions across space, air dominance and connected battle space missions. Some missions include advanced AI and machine learning capabilities.

KBR is a leader in providing science, engineering and technology solutions to governments and companies worldwide.

“LinQuest is an innovator in national security, space and technology solutions. Their talented people deliver high-end, technically and digitally differentiated services that are complementary to KBR,” Stuart Bradie, KBR president and CEO said in a news release.

KBR’s support for strategic U.S. government clients in terms of the rapidly changing defense and national security sector expect to benefit from the fact that over 74 percent of LinQuest’s 1,500-plus employees already hold security clearances.

“LinQuest is a terrific company, and the revenue synergy opportunities are exciting,” Bradie adds. ”Our values are strongly aligned, and we are delighted to welcome this talented team to the KBR family.”

Ara Partners announced this week that it has acquired a majority interest in Houston-based USD Clean Fuels. Image via Getty Images

PE firm acquires Houston renewables fuels infrastructure company

m&a moves

Fresh off its $3 billion fund closure, a Houston private equity firm has made its latest acquisition.

Ara Partners announced this week that it has acquired a majority interest in Houston-based USD Clean Fuels, a developer of logistics infrastructure for renewable fuels. The terms of the deal were not disclosed.

"We have high conviction that the green molecules economy – whether it's renewable fuel feedstocks or biofuels – offers disproportionate opportunity for returns and impact," George Yong, partner and co-head of Infrastructure at Ara Partners, says in a news release. "The USDCF platform is particularly compelling because it combines a best-in-class management team with a portfolio of premiere terminal logistics projects that provide the ideal foundation for a durable and scalable infrastructure business."

Included in the transaction, USDCF has acquired the West Colton Rail Terminal, a biofuels terminal operating in in California. Ara has reportedly committed additional capital to support USDCF's infrastructure footprint expansion.

"We are excited to join forces with Ara Partners to bring critical infrastructure solutions to the rapidly growing North American renewable fuel market, beginning with the West Colton Rail Terminal," Dan Borgen, CEO of USDCF, says in the release. "We are proud to be backed by an investor that is completely focused on enabling an accelerated and economical path to a low-carbon economy."

Ara Partners, which has around $5.6 billion of assets under management, closed its third fund a few weeks ago to the tune of $3 billion. The firm has offices in Houston, Boston and Dublin, Ireland, and focuses on industrial decarbonization.

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This article originally ran on EnergyCapital.

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Texas earns 22nd 'best state for business' title as GDP hits $2.9T

booming economy

The Texas business sector recently received a double dose of good news.

For the 22nd consecutive year, Chief Executive magazine named Texas the best state for business. In tandem with that achievement, preliminary new estimates from the U.S. Bureau of Economic Analysis show the size of Texas’ economy jumped to $2.9 trillion in 2025, up by a nation-leading growth rate of 2.5 percent compared with the previous year.

Speaking about the Chief Executive honor, Gov. Greg Abbott says Texas benefits from pro-growth policies, a strong workforce, strategic investments in education, training for high-demand skills and the presence of critical infrastructure.

“Texas is where businesses innovate and where opportunity abounds. … We will continue to move at the speed of business as we build a more prosperous Texas for generations to come,” the governor says.

An annual Chief Executive survey of CEOs, presidents and business owners determines which state is the best for business. Texas has landed at No. 1 every year since Chief Executive launched the ranking.

“Truly, this is an incredible run that Texas has going,” says Christopher Chalk, publisher of Chief Executive. “CEOs are a tough group to please, and yet year after year Texas continues to earn the top spot—no small feat.”

It’s also no small feat for a state to notch annual gains in its gross domestic product (GDP), a measurement of economic power based on the value of goods and services produced each year.

With an estimated GDP of $2.9 trillion last year, Texas maintains its position as the eighth-largest global economy compared with the nations of the world, based on preliminary estimates from the International Monetary Fund.

In reference to Texas’ GDP growth, Abbott says the Lone Star State is “the premier destination for job creators from across the country and world. We will keep attracting world-class investment, create jobs, and expand opportunity for Texans for generations to come.”

UH med school granted $2M gift to offer student scholarships

scholarship gift

A new scholarship endowment aims to support students in the University of Houston’s recently established medical school.

The University of Houston’s Tilman J. Fertitta Family College of Medicine received a planned estate gift commitment estimated at $2.1 million to establish the Bob Diehl and Teresa Evans Diehl Scholarship Endowment. The scholarship will assist full-time medical students who demonstrate financial need and meet academic standards.

“Endowed scholarships like this do more than ease the burden of tuition—they empower our students to focus on learning, leadership and compassionate care,” Jonathan McCullers, UH vice president of health affairs and dean of the Fertitta College of Medicine, said in a news release. “We are deeply grateful to the Diehls for their vision and commitment to expanding access to health care through education.”

The endowment aims to provide annual scholarship support for students enrolled in the Fertitta College of Medicine. The gift also aligns with the university's fundraising initiative focused on expanding opportunities for students, known as Can’t Stop Houston: The Centennial Campaign, which works to expand research ahead of UH’s 100th anniversary next year.

The Diehls are both graduates from UH, and Bob Diehl spent 38 years working at UPS.

“It brings me happiness to know that my endowment will make a difference in young people's lives and in the communities that will need those future doctors,” he said in the release.

The Fertitta College of Medicine welcomed its inaugural class of 30 students in 2020 and expects classes to grow to 120 students in the coming years, according to UH. The university believes scholarship opportunities will be crucial for students to pursue medical education despite financial challenges.

“The Diehl family’s generosity will open doors for talented future physicians who are called to serve our communities but may otherwise face financial barriers to pursuing a medical education,” McCullers added.

9 Houston universities boast best grad programs of 2026, per U.S. News

making the grade

Nine Houston-area universities are earning new national acclaim in a report of the best graduate schools in the U.S. for 2026.

U.S. News & World Report annually publishes its national "Best Graduate Schools" rankings in early April, which comprehensively rank graduate programs across business, education, engineering, law, health, and many others.

New for the 2026 edition, the publication updated its rankings across 12 health disciplines — only physician assistant and social work were excluded — and "the first full refresh" of doctoral science programs since 2022. U.S. News also revived its Master's in Fine Arts rankings for the first time since 2020.

"We know a graduate degree is a major commitment,” said LaMont Jones, Ed.D., managing editor of Education at U.S. News. “That is why we are dedicated to methodologies that thoroughly examine a wide range of factors, from research excellence to career success. These rankings are a powerful tool for prospective students, offering clarity and confidence as they approach their most critical educational choice."

This is how the nine local schools ranked, statewide and nationally, and how they compared with last year's national ranking:

Rice University

  • Brown School of Engineering – No. 3 best graduate engineering school in Texas; No. 25 nationally (up from No. 26 last year)
  • Jones Graduate School of Business – No. 3 best business school in Texas; No. 29 nationally (unchanged)

Several of Rice’s doctoral science programs were among the 30 best in the country, including earth sciences (No. 20), chemistry (No. 22), biostatistics (No. 25), mathematics (No. 26), statistics (No. 27), and physics (No. 28). The Ph.D. biological sciences program tied as 55th best nationwide. Rice’s public affairs program tied for No. 107 nationally.

University of Houston

  • Cullen College of Engineering – No. 5 best graduate engineering school in Texas; tied for No. 71 nationally (up from No. 72 last year)
  • College of Education – No. 5 best graduate education school in Texas; No. 95 nationally (down from No. 81 last year)
  • UH Law Center – No. 5 best law school in Texas; No. 54 nationally (up from No. 63 last year)

The University of Houston has the 31st best pharmacy program in the country, its speech-language pathology program tied for No. 54 nationally, and the clinical psychology program tied as 65th best in the U.S. In the doctoral sciences rankings, UH’s earth sciences program ranked No. 80 nationally, the physics program tied for No. 81, the chemistry program ranked 84th, and the mathematics program ranked No. 87. The Ph.D. biological sciences program ranked as the 104th best in the nation. UH’s public affairs program tied as 80th best nationally. The university also has the 106th best fine arts program in the nation.

University of Houston, Clear Lake

  • College of Education – No. 12 best graduate education school in Texas; No. 164 nationally (up from No. 166 last year)

University of Texas Health Science Center (UT Health Houston)

  • Cizik School of Nursing – No. 2 best master’s in nursing program in Texas; No. 32 nationally (up from No. 41 last year)
  • McGovern Medical School – Tier 2 best research medical school in the U.S.

UT Health Houston’s public health program tied for No. 31 nationwide, and the health care management program tied for No. 47. The Cizik School of Nursing’s nurse anesthesia program tied as 49th best in the country. In the doctoral sciences rankings, the university’s biostatistics program tied as the 25th best nationwide.

University of Texas Medical Branch, Galveston

  • Sealy School of Medicine – Tier 2 best medical research school in the U.S.

UT Medical Branch’s occupational therapy program tied for No. 41 nationally, the physical therapy program tied for No. 57, and the university tied for the 60th best nurse anesthesia program in the U.S. The public health program tied for No. 89 nationally. In the doctoral sciences rankings, the university’s biostatistics program tied for No. 70 nationally.

Prairie View A&M University

  • College of Nursing – No. 5 best master’s in nursing program in Texas; No. 104 nationally (unchanged)

South Texas College of Law Houston

  • No. 7 best law school in Texas; No. 128 nationally (up from No. 138 last year)

Texas Southern University

  • College of Education – No. 17 best graduate education school in Texas; No. 219 nationally (down from No. 178-195 last year)

TSU’s pharmacy program tied for No. 120 nationally.

University of Texas MD Anderson
UT MD Anderson’s doctoral biostatistics program tied as the 17th best nationally, and the doctoral biological sciences program tied for No. 50.

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This article originally appeared on CultureMap.com.

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