Sysco Corp. (NYSE:SYY), Houston, TX, has acquired Supplies on the Fly, an e-commerce platform providing restaurant supplies and equipment exclusively to Sysco customers. Financial terms were not disclosed.
In 2009, Sysco entered into an agreement with Instawares Holding, LLC, the owner of Kennesaw, GA-based Supplies on the Fly, to develop www.suppliesonthefly.com. Sysco also secured an option to purchase all of the equity interests of Supplies on the Fly, which it has now exercised.
Supplies on the Fly has annual revenues of $105 million.
CEO Craig Callaway will continue to manage Supplies on the Fly.