Nathan Kirsh, the 94-year-old founder of Restaurant Depot, has sold his food distribution empire to Sysco for roughly $29.1 billion including debt. Kirsh built the business from a single Brooklyn warehouse in 1976, growing it into a dominant cash-and-carry brand that operates 166 stores across 35 states.

Restaurant Depot generated about $16 billion in revenue last year, making it a formidable player in the restaurant-supply market. Kirsh once told a London Business School class that his company had "no competition," reflecting the scale and efficiency he achieved through decades of expansion. The company still holds a majority stake in the warehouse retailer.

The sale to Sysco marks the culmination of Kirsh's unlikely journey from South Africa to building a multibillion-dollar U.S. food empire. The low-profile billionaire's decision to cash out at 94 represents one of the largest private equity exits in the food distribution sector, reshaping the competitive landscape for restaurant supplies.