By Svea Herbst-Bayliss

NEW YORK, (Reuters) – Sachem Head Capital Management LP announced on Thursday it has a stake US Foods Holding Corp (NYSE:) Corp) and intends to press for improvements at this food service provider.

Sachem Head stated that it was being advised by Bernardo Hees (NASDAQ:) Co., a food industry veteran who served as CEO at Kraft Heinz (NASDAQ.) Co.

According to a regulatory filing by the New York-based investment company, it claimed that 5.1% of its common shares were held and 4.1% in cash settled swaps. This gives the firm an economic exposure of 9.2%.

Scott Ferguson is the firm’s CEO. He plans to meet with company management and the board of directors, but declined to specify what changes he would like at the company. The company has brands such as Cross Valley Farms and Devonshire bakery items.

Stock closed at $37.28

These are its main rivals Sysco Corp (NYSE:). Performance Food Group (NYSE)

Hees works as an advisor at Sachem Head and is willing to become a possible nominee for the board. Sachem Head has yet not said whether they plan to nominate directors to its 10-member board.

Pietro Satriano is the current chairman and CEO of US Foods. He was elected chairman in 2017.

Ferguson recently challenged International Flavors & Fragrances (NYSE:), where he nominated four directors to the board and pushed the company to improve its financial performance. Andreas Fibig (IFF’s former CEO), announced his retirement plans last month, but stated that he will continue to serve until a successor is identified.

Sachem Head holds stakes in fewer that 30 companies. IFF, Elanco (animal health company Elanco), where Ferguson was appointed late in 2020 to the board, make up most of the portfolio.