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Slide #45. Sysco Corporation — Assets of Distagro and Foodservice Distribution Arm of Keelings Foods
Sysco Corporation (NYSE:SYY)
Assets of Distagro and Foodservice Distribution Arm of Keelings Foods
Sysco Corporation announced that it has agreed to acquire the assets of Distagro, the foodservice division for Montreal, Quebec-based grocery retailer Metro Richelieu Inc., marking the second international acquisition in the past several weeks for North America's leading foodservice distributor. Sysco also closed on the purchase of the foodservice distribution arm of Ireland-based produce company Keelings Foods on October 3. While the specific financial terms of the two acquisitions were not disclosed, the combined annual sales of the entities approach $400 million.
Sysco, acting through its subsidiaries and divisions, is a distributor of food and related products to the foodservice or food-away-from-home industry. Co. has three segments: U.S Foodservice Operations, which includes U.S. Broadline operations, which distribute a line of food products, including custom-cut meat, seafood, specialty produce, specialty imports and a variety of non-food products; International Foodservice Operations, which includes operations in the Americas and Europe, which distribute a line of food products and a variety of non-food products; and SYGMA, which is Co.'s U.S. customized distribution subsidiary. Co.'s other segment mainly includes its hotel supply operations.
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