Sysco Corporation (NYSE:SYY), a leading global Food Company Sysco, announced on January 28, 2019, a definitive agreement to acquire Waugh Foods, Inc., a prominent broadline distributor in Illinois. This strategic acquisition, involving a company with approximately $40 million in annual sales, further solidifies Sysco’s position in the competitive foodservice distribution landscape.
Waugh Foods, based in East Peoria, Illinois, brings a 70-year legacy to the Sysco family. Established as Waugh Frozen Food Company in 1948 by Joseph A. Waugh, Sr., the company evolved into Waugh Foods, Inc. in 1966 to reflect its expanding product lines. Today, Waugh Foods is recognized for its comprehensive product offerings and strong customer relationships throughout Central Illinois, serving a diverse clientele with high-quality food products.
Greg Bertrand, Executive Vice President of U.S. Foodservice Operations at Sysco, highlighted the strategic rationale behind the acquisition. “Waugh Foods has cultivated a deep-rooted history in Central Illinois, characterized by robust relationships with independent operators in the local area,” Bertrand stated. “We are thrilled to welcome Waugh Foods into the food company Sysco network. This acquisition is exceptionally complementary to our existing local and regional operations, enhancing our service capabilities and market presence.”
The integration of Waugh Foods will be carefully managed to ensure business continuity and customer satisfaction. Key executives from Waugh Foods, including President Rick Look, Tim Waugh, and Joe Waugh, Jr., will continue to lead the business operations. This leadership continuity is expected to facilitate a smooth transition and maintain the high service standards that Waugh Foods’ customers have come to expect.
About Sysco: A Global Leader in Foodservice
As the world’s largest food company Sysco in the foodservice distribution sector, Sysco is at the forefront of selling, marketing, and distributing food products. The company’s extensive network caters to a wide array of customers, including restaurants, healthcare facilities, educational institutions, and lodging establishments – essentially, any entity that prepares meals away from home. Sysco’s portfolio extends beyond food products to encompass equipment and supplies essential for the foodservice and hospitality industries, providing a comprehensive suite of solutions for its clients.
With a vast team of over 67,000 associates, Sysco operates approximately 330 distribution facilities strategically located worldwide. This robust infrastructure enables the food company Sysco to efficiently serve more than 600,000 customer locations globally. Demonstrating its scale and market reach, Sysco generated sales exceeding $58 billion in fiscal year 2018, which concluded on June 30, 2018. This financial performance underscores Sysco’s dominance and influence in the global food distribution market.
For those seeking more detailed information about food company Sysco, please visit www.sysco.com. Stay connected with Sysco through social media platforms on Facebook at www.facebook.com/SyscoCorporation and Twitter at https://twitter.com/Sysco for company updates and news. Investors can access important financial information and news in the Investor Relations section of Sysco’s website at http://investors.sysco.com/. For real-time stock updates, follow www.twitter.com/SyscoStock and download the Sysco IR App from the iTunes App Store and Google Play Market.
Conclusion: Strategic Growth for Sysco
The acquisition of Waugh Foods by food company Sysco represents a strategic move to strengthen its market presence and service capabilities within the U.S. foodservice sector. By integrating Waugh Foods’ established operations and customer base in Central Illinois, Sysco is poised to enhance its regional density and offer even greater value to its customers. This acquisition aligns with Sysco’s ongoing commitment to growth and its position as the leading global food company Sysco, dedicated to serving the evolving needs of the foodservice industry.
Contact Information:
Camilla Zuckero
Media and Investor Relations Contact
[email protected]
T 281-899-1839
Source: Sysco Corporation
