hand with pen signs business transaction

Sysco Corp completes acquisition of Costa Rican food distributor

Sysco Corporation (NYSE:SYY), the global foodservice distribution company, has acquired the remaining 50% of Mayca Distribuidores, a leading food distributor across Costa Rica, in a cash transaction for an undisclosed price.

“We are excited to officially welcome our partners from Mayca into the Sysco family of companies,” said Scott Sonnemaker, Sysco’s senior vice-president–International Foodservice Operations, Americas. “Increasing our international presence has been a large part of our strategy in recent years, and the success and growth we have seen in Costa Rica are great examples of our strategy at work.”

In 2014, Sysco entered into a partnership with Mayca, purchasing 50% of the company.

“The closing of this acquisition is a huge benefit to our associates and customers,” said Jose Maroto, Mayca’s chief executive officer and president. “Our customers will continue to benefit from the wide variety of Sysco’s product assortment, eCommerce solutions, services and expertise.”

Mayca has been in business since 1995, and in addition to its distribution business, has a retail cash-and-carry affiliate with 12 locations. It also has three locations under construction, in addition to a cold-storage company and a truck leasing firm.

In April, Mayca moved into a 170,000-square-foot facility, the largest foodservice distribution center in Central America, designed to represent the best in technology and energy efficiency. The new facility supports growth through greater operational efficiency, as well as commercialization of new products and a further enhanced customer experience.

With the announcement, Jose Maroto will continue in his role as CEO of Mayca and add new responsibilities as Sysco’s vice-president of business development, Central and South America, to assist with executing Sysco’s strategy by growing business in Costa Rica and the surrounding regions. Osael Maroto, Mayca’s operations manager, will become president. Sysco expects there to be no other operational changes to the business and plans to retain all current employees.

With more than 65,000 associates, Sysco operates approximately 300 distribution facilities worldwide and serves more than 500,000 customer locations.

For more information, visit www.sysco.com.

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