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Sysco completes acquisition of four foodservice companies

Sysco completes acquisition of four foodservice companies

Sysco Corporation (NYSE:SYY) recently completed the acquisition of these independent foodservice companies:

•Appert’s Foodservice, a full-service broadline distributor based in St Cloud MN

•Buchy Food Service, a full-service broadline distributor based in Greenville OH

•Central Seafood Company, a seafood supplier based in Orlando FL

•Distagro, the foodservice division for Montreal, Quebec-based grocery retailer Metro Richelieu Inc

These acquisitions were completed in December 2012. While specific financial terms of the acquisitions were not disclosed, the combined annual revenues of the four companies are about $520 million. To date, in fiscal year 2013, Sysco has acquired nine businesses that, in the aggregate, had annual sales exceeding $750 million.

“We’re excited to be expanding the Sysco family of companies with these quality foodservice providers,” said Chris Kreidler, Sysco’s executive vice-president and chief financial officer. “Customers of these companies can expect to receive the same high-level service they’ve traditionally received, while being introduced to the additional breadth and depth of products and capabilities offered by Sysco.”

Based in Houston TX, Sysco sells, markets, and distributes food products to restaurants, healthcare and educational facilities, lodging establishments, and other customers who prepare meals away from home. The company operates 185 distribution facilities serving more than 400,000 clients. For the fiscal year 2012 ended June 30, 2012, the company generated record sales of more than $42 billion.

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