Sysco Corp., Houston, TX, has acquired Irish food distributor Pallas Foods Limited. The acquisition expands Sysco’s international presence.
Pallas Foods has annual revenues of approximately $200 million and employs about 500 associates. Pallas operates its broadline distribution business from its Newcastle West facility supplemented by eight operating depots throughout Ireland.
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 180 distribution facilities serving more than 400,000 customers. For the fiscal year 2008 that ended June 28, 2008, the company generated more than $37 billion in sales. …
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Carlisle Companies Inc., Charlotte, NC, reported fourth quarter sales of $623.5 million, a 1% decline from the fourth quarter of 2007. Profit decreased 68% to $13.7 million. The slow economy and costs related to previously announced consolidations and closures drove results down for the quarter.
Construction Materials segment reported fourth quarter sales of $300.5 million, down 11% from fourth quarter 2007.
Transportation Products sales declined 8% to $170.1 million. Growth in the agricultural and construction tire and wheel markets was more than offset by continued softness in the lawn and garden, high-speed trailer, styled wheel and construction trailer markets.
Applied Technologies sales in the fourth quarter were $113.4 million, an …
Sysco Corp., Houston, TX, reported sales of $9.1 billion for its second quarter ended Dec. 27, 2008, a decrease of 1% from the prior year. Profit was $237.7 million, down 10%.
For the first half of fiscal year 2009, sales increased 2% to $19 billion. Profit declined 3.1% to $514.5 million.
"The business environment remains difficult in the short term, as demonstrated by our decline in sales last quarter," CEO Richard J. Schnieders said. "However, we remain focused on execution and operational excellence, which we believe will strengthen our position within the industry over the long term."
Food cost inflation, as estimated by the change in Sysco’s cost of goods, was 7% for the quarter.
Sysco sells, markets and …
The CEO of Sysco Corp., Houston, TX, Richard J. Schnieders, has announced his plan to retire on June 27, 2009, the end of Sysco’s 2009 fiscal year. Schnieders will continue as chairman of the board subsequent to stepping down as CEO on March 31. He joined Sysco in 1982, serving as CEO since 2003.
Bill DeLaney, Sysco’s executive vice president and chief financial officer, will become CEO. Delaney will continue to act as CFO until his replacement is chosen. In addition, Ken Spitler, Sysco’s president and chief operating officer, has been promoted to vice chairman of the board of directors and will continue in his current responsibilities.
DeLaney has been with Sysco since 1987, and has served in his current position since 2007. Spitler joined Sysco in 1986 and was …
Foodservice distributor McLane Co. has acquired Amarillo, TX-based distributor McCarty-Hull.
McCarty-Hull has sales of about $100 million in grocery, tobacco and other products to convenience and grocery stores in four states.
McLane has annual sales of $24 billion and is owned by Berkshire …
According to various news reports, Ben E. Keith Foods, a national foodservice distributor, has acquired Winn Meat Company, Dallas, TX.
Winn Meat will operate as a division of the distributor. Winn sells to restaurants and other foodservice operations. The former owners will stay with the company. …
Houston, TX-based Sysco Corp. reported sales for the first quarter of fiscal 2009 ended Sept. 27, 2008, were up 5% to $9.9 billion from the first quarter 2008. Profit was $276 million, up from $266 million in the first quarter 2008.
Our operating companies continued to generate impressive results in the midst of a prolonged and difficult business environment,” said Richard J. Schnieders, Sysco’s CEO.
Food cost inflation, as estimated by the change in Sysco’s cost of goods, was 8.3% for the quarter.
Sysco operates 180 distribution facilities serving more than 400,000 customers. For the fiscal year 2008 that ended June 28, 2008, the company had more than $37 billion in …
Farmington Hills, MI-based Blue Line Foodservice Distribution, foodservice systems distributor, named Matthew Ilitch as president of the company.
Ilitch has more than 30 years of combined experience at Little Caesars Pizza and Blue Line. Previously, he was vice president of Operations &Distribution for Blue Line. …
Reinhart Foodservice, La Crosse, WI, is buying The IJ Company, based in Tennessee. The IJ Company has about $564 million in 2007 sales.
IJ and Reinhart are both in the top 10 foodservice distributors in the U.S., according to industry reports. According to one report, the two together will have sales of about $4 billion.
The company will operate as Reinhart Foodservice IJ …
United Natural Foods, Inc., Dayville, CT, has tapped former Performance Food Group chief Steven Spinner as its new CEO and president.
Current President and CEO Michael S. Funk will be chairman of the Board and will remain actively involved in strategic growth initiatives and key customer and supplier relations.
Spinner worked as president and CEO of Performance Food Group, one of the largest broad-line foodservice distributors in the U.S., with sales of more than $6.3 billion in 2007. Performance Food Group was acquired by two private equity firms in …
TriMark USA, Inc., South Attleboro, MA, a distributor of foodservice equipment and supplies, has agreed to acquire San Francisco, CA-based Economy Restaurant Fixtures, Inc., including its BigTray Division.
Jerry Hyman, CEO of TriMark USA said: “This acquisition … puts us into two additional market segments -cash-and-carry and Internet sales, both of which we intend on expanding. It also gives the TriMark family much needed West Coast distribution capabilities.”
Economy employs 150 individuals between its San Francisco location and a superstore in Sacramento, CA.
TriMark USA is a full-service equipment and supplies distributor with over 900 employees servicing all …
Miami, FL-based Southern Wine &Spirits of America, Inc. and Glazer’s Distributors, Addison, TX, have created a joint venture to provide distribution of wine and spirits in serve 38 states. The venture will operate under the name Southern/Glazer’s Distributors of America.
The 38 states served by the new venture account for more than 80% of the wine and spirit sales in the U.S.
Wayne E. Chaplin, president of Southern Wine &Spirits of America, Inc. and will serve as CEO of the new joint venture, said: The combination of the resources of our two great companies will bring greater scale and synergies to the marketplaces we serve and, therefore, allow us to be better partners to both our suppliers and our retailer customers. Given the highly competitive landscape at …
SYSCO Corp., Houston, TX, reported sales increased 7.1% in fiscal 2008 to $37.5 billion. Food cost inflation, as estimated by the change in cost in goods, was 6%.
Operating income for 2008 grew 10% over the prior year.
For the fourth quarter 2008, sales were up 5.4% to $9.7 billion. Operating income was up 9.7% to $559 million. Fourth-quarter profit was up to $334 million from $303 million in the prior-year period. Food cost inflation for the period was 6.2%.
Here’s a distributor going all the way to green its vehicles. Foodservice distributor Favorite Foods in New Hampshire has announced it will fuel all of its delivery trucks with biodiesel. According to this article, the use of biodiesel in a conventional diesel engine results in a “substantial reduction of unburned hydrocarbons, carbon monoxide, and particulate matter when compared to emissions from diesel fuel.”
The company’s president, Chris Barstow, is quoted as saying:
“As a business, we have always done everything we can to positively impact …
Georges Enterprises, Elmwood, LA, has purchased Bossier City, LA-based food distributor Harrison Company. Harrison will continue to operate as a separate entity under the name Harrison SR.
As part of Georges Enterprises, Harrison will join New Orleans-based Imperial Trading Company to expand the company’s food distribution reach to nine states from its current five. The acquisition will also provide an inland site to alleviate disruptions like those that occurred after Hurricane Katrina hit New Orleans.
Harrison president Hal Martin will continue in that role.
Georges CEO John Georges says they will add 50 to100 new jobs in Bossier City where Harrison currently employs 150.
Georges expects the partnership to earn $1 billion by 2010. …
Ending speculation about the possibility of a hostile takeover, Staples reached a friendly agreement to buy Dutch office supplies distributor Corporate Express NV in a deal valued at €3.1 billion (US$4.8 billion at the current exchange rate). The deal will shift Staples' market focus to 60 percent contract and delivery.
The decision to change the business focus of Staples followed the numbers: delivery in North America for Staples grew 14 percent in 2007, making it the fastest growing and most profitable of the company's offerings. Retail, which currently makes up 60 percent of Staples' business, has been struggling in the current economy.
In addition to the dramatic growth of delivery and contract services, the acquisition provides opportunity to expand …
Orval Kent Food Company Inc., Wheeling, IL, a portfolio company of Questor Management Company, has acquired Fresh Creative Foods LLC, San Diego, CA.
Fresh Creative Foods is a processor and distributor of ready-to-eat refrigerated gourmet meals and side dishes. The company specializes in chicken dishes and its proprietary product line includes salads, dips, spreads and entrees.
Orval Kent Food Co. manufactures and sells a wide variety of fresh, refrigerated foods such as deli-style salads, component kit salads, mashed potatoes and side dishes, fresh-cut fruit, dips and salad dressing. Orval Kent operates manufacturing and distribution centers in California, Illinois, Kansas, Ohio, Texas and …
The acquisition of Performance Food Group Company, Richmond, VA, by The Blackstone Group and Wellspring Capital Management has been completed. The transaction is valued at $1.4 billion.
Performance Food Group is being merged with a wholly owned subsidiary of VISTAR Corporation, a specialty foodservice distributor controlled by affiliates of Blackstone and Wellspring.
The newly combined company, known as Performance Food Group, is expected to have revenues approaching $10 billion and more than 10,000 associates.
As a result of the merger, Performance Food Group Company’s common stock was delisted and ceased trading on the NASDAQ Global Select …
SYSCO Corp., Houston, TX, reported sales for the third quarter fiscal 2008 were up 6.7% to $9.15 billion, from last year’s third quarter.
Profit was up 9% to $240.9 million. Food cost inflation, as estimated by the change in SYSCO’s cost of goods, was 6.2% for the quarter.
Year-to-date, sales increased 7.7% to $27.79 billion from the same period last year, and profit was up 10.7% to $772 million. Food cost inflation, as estimated by the change in SYSCO’s cost of goods, was 6.0% year-to-date in fiscal 2008.
In a challenging business environment where restaurant sales growth appears to have been flat to down, we continued to grow and we leveraged that growth to our bottom line, particularly in the Broadline segment,” said Richard J. Schnieders, …
Sysco Corp., Houston, TX, has completed a 353,000-square-foot broadline foodservice distribution center in Knoxville, TN. The new company, Sysco Foodservices of Knoxville LLC, will start service May 12 to an existing customer base in eastern Tennessee, western North Carolina, southwestern Virginia and southeastern Kentucky.
Customers in those markets are currently be serviced by other Sysco facilities.
The new facility features two robotic mechanized product storage and retrieval systems, lighting control systems to reduce electrical consumption, a generator capable of sustaining the facility at full operating capacity in case of a power interruption or failure, and a culinary training and evaluation center.
SYSCO has annual sales of around $35 billion. …
