Nelson Peltz's Trian Fund buys stake in food distributor Sysco

Associated Press

Nelson Peltz' Trian Fund Management has acquired a 7.08 percent stake in Sysco, making it the food distributor's largest shareholder.

Trian in regulatory filing said that the Houston company has underperformed and that it has met with CEO William Delaney to talk about to change that. A company spokesman says Sysco welcomes discussions with investors.

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Shares of Sysco Corp. jumped more than 6 percent Friday.

Last year, Trian pushed PepsiCo to split its drinks and snack units and this year it lobbied DuPont to break the company up into separate divisions.