Sysco Canada Announces Purchase of Ontario-Based Distributor
28 April 2015 - 7:00AM
Sysco Canada, a wholly owned subsidiary of Sysco Corporation
(NYSE:SYY), announced today that it has agreed to acquire Tannis
Trading, Inc., a broadline foodservice distributor in Ottawa,
Ontario.
While financial terms of the proposed transaction were not
disclosed, Tannis Trading had revenues of approximately $118
million (Canadian) in its most recent fiscal year. The
transaction's completion is subject to review by Canadian
regulatory agencies.
"Tannis has a 75-year history of providing quality service to
customers in Ottawa, Canada's fourth-largest metropolitan market,
and the surrounding areas," said Randy White, president of Sysco
Canada. "This acquisition demonstrates Sysco's commitment to better
serve our customers, improve our service footprint, grow our
business and achieve our goal of increasing sales in Canada."
Upon completion of the transaction, the Tannis distribution
facility in Ottawa will remain in place along with the existing
employees and management team.
About Sysco
Sysco is the global leader in selling, marketing and
distributing food products to restaurants, healthcare and
educational facilities, lodging establishments and other customers
who prepare meals away from home. Its family of products also
includes equipment and supplies for the foodservice and hospitality
industries. The company operates 194 distribution facilities
serving approximately 425,000 customers. For Fiscal Year 2014 that
ended June 28, 2014, the company generated sales of more than $46
billion. For more information, visit www.sysco.com or connect with
Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter
at https://twitter.com/Sysco.
CONTACT: For more information:
Charley Wilson
Vice President, Corporate Communications
T: 281-584-2423
Shannon Mutschler
Vice President, Investor Relations
T: 281-584-1308
Sysco (NYSE:SYY)
Historical Stock Chart
From Apr 2024 to May 2024
Sysco (NYSE:SYY)
Historical Stock Chart
From May 2023 to May 2024