SYSCO Corporation has announced that is has signed a non-binding term sheet to acquire the Las Vegas specialty meat distributor Desert Meats & Provisions. The terms of the deal, which remains subject to the successful completion of SYSCO’s due diligence, were not disclosed.
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“The acquisition of Desert Meats & Provisions is a logical geographic expansion of SYSCO’s specialty meat strategy,” said Larry J. Accardi, executive vice president of contract sales and president of specialty distribution companies at SYSCO. Accardi added that the acquisition would increase SYSCO’s distribution leverage and procurement capabilities in the Las Vegas market.
Accardi said that Desert Meats & Provisions would report through SYSCO’s specialty companies segment through Tim Hussman, the chief executive officer and president of Newport Meat Company, a SYSCO subsidiary located in Irvine, California. However, SYSCO said that Desert Foods’ founder Harlon Unruh would have a seat on an advisory board which will oversee the company’s strategy.
Founded in 1978, Desert Meats & Provisions is the largest independent specialty meat distributor in the Las Vegas and southern Nevada foodservice markets, with an annual turnover of around US$55m.
With a range of 1,200 products, including fresh and frozen specialty and variety meats, aged beef, pork, lamb, veal, poultry and processed meat, the company includes more than 200 Las Vegas mega-resorts, hotels and fine restaurants among its clients.
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By GlobalData
