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In The News:

Sysco Agrees to Buy Montreal-Based Distagro

October 22, 2012
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Sysco Corp. (NYSE: SYY), Houston, TX, has agreed to acquire Distagro, the foodservice division for Montreal, Quebec-based grocery retailer Metro Richelieu Inc., marking the second international acquisition in the past several weeks for the North American foodservice distributor.

The acquisition of Distagro's foodservice division is designed to complement Sysco's growing presence in the competitive Quebec market. Distagro supplies food products to customers with operations in Quebec and Eastern Canada. Within the past 13 months, Sysco has also acquired Frank and Dino, a Montreal broadline specializing in Italian imports; Viandes St. Laurent, a Montreal meat processor and distributor; and En Gros Pierre, a Montreal seafood company.

Sysco completed the purchase of the foodservice distribution arm of Ireland-based produce company Keelings Foods this month. Terms of the two acquisitions were not disclosed, but annual sales of the entities approach $400 million.

The acquisition of Keelings' foodservice distribution business, Sysco’s third acquisition in Ireland, expands Sysco's presence in the country. The acquired business specializes in delivering fresh produce. It employs 160 people and has operations based in Dublin, Cork, Belfast and Wexford. The business will retain its existing brand identity and management team, and all employees will remain with the business.

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