Foodservice distributor Sysco Corp. (NYSE: SYY) of Houston has completed its acquisition of The Coastal Companies, a leading fresh produce distributor and value-added processor based in Laurel, Maryland.
The deal previously was reported in December. Financial details were not disclosed.
“The acquisition will operate as part of FreshPoint, Sysco’s specialty produce business, and enables FreshPoint to enhance its service to the important Mid-Atlantic region, strategically diversify its portfolio by adding retail and ready-to-eat capabilities and adds state-of-the-art facilities with capacity for growth,” Sysco said.
The Coastal Companies generates annual revenue of approximately $600 million, Sysco said.
Sysco acquired The Coastal Companies from Continental Grain Company and Rabo Investments (Rabobank) through Arlon Food and Agriculture Partners, LP, their co-sponsored private equity fund.