US: American Italian ends SYSCO relationship
American Italian Pasta Company has terminated its mutually exclusive contract with foodservice provider SYSCO Corporation for the supply of pasta from the end of 2006.
The company has instead said it expects to continue supplying pasta to the SYSCO network of operating companies as a non-exclusive qualified supplier, while pursuing the rest of the market.
Under the terms of the contract, American Italian has been precluded from pursuing other food service providers, which present a market opportunity of approximately 375m pounds of pasta annually, according to the pasta firm.
American Italian Pasta Company CEO Jim Fogarty said: "AIPC has had a strong, long-standing relationship with SYSCO and its operating companies and we are looking forward to continuing to be a key supplier to SYSCO.
"Going forward, we also will be able to provide all other major food distributors and multi-unit accounts with our high quality pasta products marketed under both private label and AIPC's own brands.
"Given the outstanding business we have built in the retail private label market, we are excited about pursuing this market opportunity, forming relationships with these customers and continuing to demonstrate the outstanding service levels and quality that our current customers have come to know and rely upon."
During the 2005 financial year, sales to SYSCO accounted for approximately 11% of the company's revenue.
Jerry Dear, executive vice president of AIPC, said, "We look forward to our continued success with SYSCO and its operating companies and to leveraging our food service expertise to expand our business in this growing segment of the industry. Over these next several months we will focus on developing our infrastructure to maximize these opportunities."
Companies: American Italian Pasta
Manufacturers are fighting back against retailers' own labels with more premium and innovative ice cream ranges. This premiumisation and differentiation is essential in order to avoid the economisatio...
American Italian Pasta Company (AIPC), the largest producer and marketer of dry pasta in North America, has provided an update on the progress of the restatement of its historical financial statements...
Dutch food group Royal Wessanen has announced the sale of its Dailycer and Delicia private label businesses to One Equity Partners Europe (OEP) for EUR104m (US$137m)....
Rewe has opened its second bio foods organic supermarket in Cologne this year, expanding further into the high growth natural foods segment....
Pasta producer American Italian Pasta Company (AIPC) has issued a report on its liquidity and sales....
Canadian grocer Loblaw announced plans to close stores and trim its non-food product offering after cutting its financial outlook yesterday (17 November) when it revealed its third quarter results....
Reporting its results for the fourth quarter, Gold Kist revealed that its profits took a nosedive, dropping from US$25m, or $0.49 per share last year, to $3.2m, or £0.06 per share, this year due to in...
TreeHouse Foods third quarter income increased from US$0.16 per share in the third quarter of last year to $0.26 per share for the third quarter of this year, boosted by the April acquisition of soup ...
- Unilever 2016 investor day - the top takeaways
- The key questions for digital strategists in 2017
- Wessanen's move for Spain's Biogran - analysis
- Burger King, Jollibee: foodservice focus, Nov 2016
- Have food promotions reached tipping point?
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Japan's Nagatanien buys Chaucer Food Group
- Tyson sets up US$150m investment fund