Sysco Explores Potential Metro Takeover
HOUSTON, TX - The Texan food distribution giant is setting its sites on a global scale, recently approaching the German wholesaler Metro AG about a potential acquisition. If the proposition does go through, Sysco would expand significantly in Europe.
Talks are still being held, but Sysco has been in contact with Metro in recent weeks. Both companies are working with advisers on how to move forward whether the transaction follows through or not.
Metro would be “a perfect match from a regional perspective,” for Sysco, Baader Helvea analyst Volker Bosse wrote in a note to clients, Bloomberg reported, adding the suitor “could create a lot of cost synergies by downsizing Metro’s headquarters functions.”
Bloomberg further noted any transaction would be Sysco’s CEO Kevin Hourican’s first major move since he stepped in to lead the company earlier this year. Last month, we recently reported that Metro sold its Real hypermarket chain, but the wholesaler would still be able to offer Sysco access to hotel, restaurant, and catering clients throughout the continent.
Which way will the talks fall? Keep reading ANUK as we uncover more in the retail space.