HOUSTON and MEXICO CITY, Nov. 6, 2014 – Sysco Corporation (NYSE:SYY), a leading name in Sysco Food Service distribution across North America, has officially announced a strategic move to broaden its international footprint. The company has entered into an agreement to acquire a 50 percent stake in Pacific Star Foodservice, a prominent food service distributor based in Mexico. This significant partnership marks Sysco’s second major investment in the Latin American market in 2014, underscoring its commitment to global expansion and reinforcing its leadership in the food service industry. The financial details of the agreement remain undisclosed.
Pacific Star Foodservice, established in 1989, has built a robust distribution network across key Mexican metropolitan areas including Mexico City, Guadalajara, Monterrey, and Tijuana. The company specializes in serving major chain accounts, encompassing fast food and casual dining restaurants, casinos, theme parks, movie theaters, and hotels throughout Mexico. This acquisition allows Sysco to tap into Pacific Star’s established market presence and customer base, providing a strong platform for growth in the region.
Alt: Map of Pacific Star Foodservice distribution locations in major Mexican cities, highlighting Sysco food service expansion in Mexico.
This venture follows Sysco’s earlier investment in June 2014, where it secured a 50 percent ownership stake in Mayca Distribuidores, S.A., a leading food service distributor in Costa Rica. These strategic partnerships demonstrate Sysco’s focused approach to expanding its food service operations in high-growth markets within Latin America.
Armando Beltrán, CEO of Pacific Star, expressed enthusiasm about the partnership, stating, “We are delighted to join forces with Sysco, the North American leader in sysco food service distribution. Pacific Star’s customers and employees stand to gain significantly from Sysco’s extensive operational expertise, diverse product range, and world-class capabilities.” This collaboration is expected to enhance Pacific Star’s service offerings and strengthen its competitive edge in the Mexican market by leveraging Sysco’s global resources and best practices in food service.
Kent Humphries, Sysco’s Senior Vice President-International Foodservice Operations, also commented on the strategic alignment of this partnership with Sysco’s broader goals. “Sysco is thrilled to partner with Pacific Star, a company recognized for its exceptional customer service and proven success in the Mexican market. This alliance perfectly aligns with our international expansion strategy and strengthens our leadership position in North America, complementing our existing operations in the United States and Canada. By combining the strengths of both Pacific Star and Sysco, we are poised to deliver enhanced service to customers in the region, drive business growth, and generate increased value for our shareholders.”
Alt: Sysco Food Service partnership with Pacific Star Foodservice in Mexico, emphasizing growth and customer service benefits.
The transaction is currently undergoing regulatory review by Mexican government authorities, with completion expected upon clearance. Upon successful conclusion, Mexico will become the sixth country outside the United States where Sysco operates broadline food service distribution. Sysco’s existing international operations include facilities in the Bahamas, Canada, Costa Rica, Ireland, and Northern Ireland. Furthermore, Sysco’s subsidiaries extend their food service reach to customers in over 90 countries worldwide, solidifying its global presence in the food service industry.
About Sysco
Sysco stands as the global leader in marketing, selling, and distributing food products to a diverse clientele including restaurants, healthcare and educational institutions, lodging establishments, and other entities that provide meals away from home. Sysco’s comprehensive product portfolio also encompasses equipment and supplies tailored for the food service and hospitality sectors. Operating 194 distribution facilities, Sysco serves approximately 425,000 customers. In Fiscal Year 2014, ending June 28, 2014, Sysco generated sales exceeding $46 billion, underscoring its significant impact and scale within the sysco food service market. For additional information, please visit www.sysco.com or connect with Sysco on social media platforms such as Facebook (www.facebook.com/SyscoCorporation) and Twitter (https://twitter.com/Sysco).
Alt: Sysco Food Service global distribution network map, showcasing their extensive reach in the food service industry worldwide.
This strategic partnership with Pacific Star Foodservice not only expands Sysco’s geographical reach but also reinforces its commitment to providing unparalleled sysco food service solutions to a growing global market.
