Houston-based foodservice marketing and distribution giant Sysco Corporation yesterday [Thursday] announced that it has signed a letter of intent to acquire Abbott Foods, an independently owned broadline foodservice distributor based in Columbus, Ohio.
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Abbott Foods is Ohio’s largest privately owned foodservice distributor, with sales of about US$200m in 2001. The company operates from a 287,000ft² warehouse, providing about 10,000 products to 7,800 customers throughout Ohio and surrounding states.
Charles H. Cotros, chairman and CEO, said, “The addition of Abbott Foods will complement our existing broadline companies in Cleveland and Cincinnati. Their focus on branded products, as well as specialty products such as custom-cut steaks, seafood and produce, is also in line with Sysco’s growth strategies.”
Larry C. Abbott, Abbott Foods’ president and CEO, added: “The opportunity to join forces with the US’ leading foodservice distributor will enhance our procurement and growth opportunities, benefiting both our customers and employees. We share similar values and visions, and our entire organisation looks forward to joining the Sysco team.”
The purchase is expected to close by early October 2002, and the merged company will be known as Abbott SYSCO Food Services and will operate as one of SYSCO’s autonomous operating companies from its current Columbus, Ohio, facility.
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