05:10 PM EDT, 08/13/2024 (MT Newswires) -- US Foods ( USFD ) said Tuesday it has signed an agreement to buy back about $211 million of its shares beneficially owned by a fund managed by Sachem Head Capital Management at $52.28 per share and inclusive of around $2 million of excise taxes.

The move is part of US Foods' ( USFD ) $1 billion share buyback plan approved on June 1, the company said, adding it has about $691 million in remaining funds authorized.

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