Sysco Corp. (NYSE:SYY) has signed an agreement to acquire Hawaii-based HFM FoodService. The distributor reported $290 million in annual sales in 2016 and operates on all four of the major Hawaiian Islands and Guam. 

"Acquiring HFM provides Sysco with direct access to the growing Hawaiian market and is in clear alignment with our strategy for disciplined, profitable growth of the business," said Tom Bené, president and COO of Sysco.