Nathan Kirsh Sells Restaurant Depot Empire for $29 Billion
Nathan Kirsh, the reclusive 94-year-old founder of Jetro Restaurant Depot, has sold his food supply empire in a landmark deal valued at $29 billion. Kirsh established the business in 1976 as Jetro Cash & Carry, starting with a single warehouse in Brooklyn, New York. Over nearly five decades, he transformed the initial venture into a dominant force in the U.S. restaurant-supply market. Today, Restaurant Depot operates 166 stores across 35 states and generated approximately $16 billion in revenue last year. Kirsh, who began his entrepreneurial journey in South Africa before moving to the United States, identified a market opportunity by observing how small retailers in New York sourced their goods. This significant transaction highlights the culmination of Kirsh's long-standing business strategy and marks a major shift in the wholesale food distribution industry. The sale underscores the substantial value created by Kirsh's focused approach to serving professional chefs and independent restaurateurs, solidifying his legacy as a key figure in American retail history despite his low public profile.
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Nathan Kirsh Sells Restaurant Depot Empire for $29 Billion
Nathan Kirsh, the reclusive 94-year-old founder of Jetro Restaurant Depot, has sold his food supply empire in a landmark deal valued at $29 billion. Kirsh established the business in 1976 as Jetro Cash & Carry, starting with a single warehouse in Brooklyn, New York. Over nearly five decades, he transformed the initial venture into a dominant force in the U.S. restaurant-supply market. Today, Restaurant Depot operates 166 stores across 35 states and generated approximately $16 billion in revenue last year. Kirsh, who began his entrepreneurial journey in South Africa before moving to the United States, identified a market opportunity by observing how small retailers in New York sourced their goods. This significant transaction highlights the culmination of Kirsh's long-standing business strategy and marks a major shift in the wholesale food distribution industry. The sale underscores the substantial value created by Kirsh's focused approach to serving professional chefs and independent restaurateurs, solidifying his legacy as a key figure in American retail history despite his low public profile.
WSJ.com: US Business