A Year in Review: A Peek at Sysco's 2019 Acquisitions
UNITED STATES - 2019 has seen some major consolidation across the fresh produce and grocery landscape. From the supply-side to the buy-side, mergers and acquisitions are front and center, bringing us a dynamic space in which to watch and observe the changes in our industry unfold. Amongst that dynamic bunch making moves to bolster and embolden its operations is Sysco.
With a robust international network that supports customers in approximtely 90 different countries around the world, the company has stretched its arms long and wide to move the industry needle. Here is a look back at some of the Sysco news announced in 2019, so you can see the forest for the trees.
Waugh Foods is an Illinois-based broadline distributor with approximately $40 million in annual sales as of January 2019, making it a great complement to the strong relationships the foodservice giant hopes to cultivate with local independent operators.
As Greg Bertrand, Sysco’s Executive Vice President, U.S. Foodservice Operations stated at the time, the company was thrilled.
“We are excited to welcome Waugh into the Sysco family and believe this acquisition is a perfect complement to our existing local and regional presence,” he stated in a press release. Find out more here.
In April, we covered Sysco’s acquisition of two California distributors, which in total, brought in a combination of $44 million in annual sales at the time of the announcement. The acquisition of these operations complemented Sysco’s existing California-area business and provides the company with the opportunity to further extend penetration in the Hispanic customer segment. Find out more here.
Kings Food Service Professionals, a Holtsville, New York-based broadline distributor with approximately $150 million in annual sales as of August, was acquired by Sysco and expanded its progressive family of businesses.
“J. Kings is a well-respected, New York area broadline distributor, and we are happy to welcome them into the Sysco family of businesses,” Bertrand stated in a release. Find out more here.
The foodservice visionary acquired two Hawaii-based fresh produce providers which, combined, had approximately $155 million in annual revenue as of November. Part of Sysco’s specialty produce company, the acquired entities will operate under the FreshPoint banner.
As Bertrand stated in a press release, the acquisition provides Sysco and FreshPoint with additional direct access to the Hawaiian Islands and increased capacity to expand our produce assortment in the local market. Find out more here.
And, just for our undying love of the industry's finest, we want to congratulate Julie Olivarria, who assumed the role of Vice President of Produce for Sysco in 2019.
If only there was more, Sysco! Well, there is and there was...but we only have some much room on this ANUK page to rave about all things foodservice giant. And we are sure, there will be more to come.