Sysco
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US$76.324 billion (2023)[1] | |
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Number of employees | 72,000 (2023)[1] |
| Website | sysco |
Sysco Corporation (short for Systems and Services Company) is an American
Sysco is the world's largest broadline food distributor; it has more than 600,000 clients in a wide array of fields. Management consulting is also an integral part of their services. The company operates approximately 330 distribution facilities worldwide; providing service to over 90 countries.The company was founded in 1969 by
In December 2013, Sysco announced an $8.2 billion planned acquisition of its next-largest food distribution rival,
History
In 1981, SYSCO Food Services bought out the assets of Lankford Produce, based in West Pocomoke, Maryland and founded in 1964, by Stanley E. Lankford Jr., forming the Lankford-SYSCO division in the Delmarva Peninsula, renamed Sysco Eastern Maryland in 2008.
In 1988, Sysco acquired CFS Continental which had recently been acquired from Tate & Lyle through their purchase of A. E. Staley in Illinois.
In 1996, Sysco was the third largest company in Houston. It had over 30,000 employees.[8]
In 1999 Sysco acquired Newport Meat Company, which generated a yearly revenue of $100 million supplying meat to over 1,000 restaurants.[9]
In 2002, Sysco purchased SERCA Foodservices and renamed it Sysco Canada. SERCA had been owned by the supermarket giant Oshawa Group, which was acquired by Sobeys in 1998.[10]
In 2003, Sysco purchased Asian Foods, the largest Asian foods distribution in North America. The first group of Asian Foods joined Sysco Kansas City in 2006, followed by Asian Foods Chicago joining Sysco Chicago in Sep, 2009.[11]
In 2009, Sysco acquired Pallas Foods, the largest food distributor in Ireland. Continuing the expansion of their Irish offerings, in 2012, Sysco purchased Crossgar Foodservice for an undisclosed amount.[12]
On December 9, 2013, Sysco announced they would acquire US Foods for a total of $3.5 billion.[13] But on June 24, 2015, US Federal Judge Amit Mehta ruled that the combined Sysco-US Foods would control 75% of the U.S. food service industry and would stifle competition.[14] On June 29, 2015, Sysco terminated its merger with US Foods.[15][16]
In May 2022, after a year of testing, Sysco committed to the purchase of Freightliner eCascadia electric trucks, with the goal of electrifying 35% of its fleet by 2026.[17]
Subsidiaries
The SYGMA Network, Inc. is a wholly owned subsidiary of Sysco that provides food and non-food products to chain restaurants throughout the United States.
SYGMA was founded in January 1984, when senior officers of Sysco Corporation started discussions for forming a new distribution company. The first products were shipped in May 1985, from SYGMA's first distribution center in Oklahoma. In 1988, Sysco acquired CFS, increasing head count at the organization.
SYGMA's customers include approximately 14,000 restaurants representing 26 concepts. Operating from 14 distribution centers, SYGMA is one of the largest chain distributors in the United States with sales over $6.7 billion. 186 million cases of product are delivered each year. SYGMA currently employs over 4,000 employees.
References
- ^ a b c d e f "Sysco Corporation 2023 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. January 2024. Retrieved 28 February 2024.
- ^ "Land Use and Demographics[permanent dead link]." Energy Corridor District. March 2009. 3 (7/53). Retrieved on January 16, 2010.
- ^ "Sysco". Library of Congress. Archived from the original on October 31, 2020. Retrieved March 17, 2024.
- ^ a b "Fortune 500 2010: States: Texas Companies". CNN.
- ^ "Fortune 500 Companies 2018: Who Made the List". Fortune. Retrieved 2018-11-10.
- ^ Some independents eager to take bite out of Sysco, The Deal Pipeline, William McConnell, April 3, 2014.
- ^ Gara, Antoine (June 29, 2015). "Sysco Cancels $8.2 Billion US Foods Takeover In Big Antitrust Win For FTC". Forbes. Retrieved October 1, 2015.
- ^ Hassel, Greg. "Sysco goes to court vs. RioStar/Chapter 7 sought for Ninfa's parent." Houston Chronicle. Friday October 18, 1996. Business 1. Retrieved on February 6, 2012.
- . Retrieved 2020-09-02.
- ^ "SYSCO TO ACQUIRE SERCA, CANADIAN NATIONAL BROADLINER, (USD$1.4-BILLION)". Restaurant Business. 5 December 2001. Retrieved 29 December 2020.
- ^ "Asian Foods bought by Sysco". bizjournals. 12 November 2002. Retrieved 29 December 2020.
- ^ Jones, Kristin. "Sysco Buys Crossgar Foodservice, Pushing Irish Expansion". Wall Street Journal. Archived from the original on June 17, 2012. Retrieved 15 June 2012.
- ^ Corporation, Sysco (2013-12-09). "Sysco and US Foods Agree to Merge, Creating a World-Class Foodservice Company". GlobeNewswire News Room (Press release). Retrieved 2020-07-08.
- ISSN 0099-9660. Retrieved 2020-07-08.
- ^ "Sysco Cancels $8.2 Billion US Foods Takeover In Big Antitrust Win For FTC". Forbes. June 29, 2015.
- ^ "Sysco Terminates Merger Agreement with US Foods" (Press release). June 29, 2015.
- ^ Hanley, Steve (2022-05-23). "More Electric Semi Trucks Coming To US & Europe". CleanTechnica. Retrieved 2022-07-24.
External links
- Official website
- Business data for Sysco:
- Asian Foods Inc.
- BusinessWeek 50 ranking and analysis of Sysco
- The SYGMA Network, Inc.
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