U.S. Foodservice (NYSE: UFS) today announced that it has signed a letter of intent to acquire Mutual Wholesale Co. (“Mutual” or the “Company”), a broadline distributor in central and south Florida. Mutual generates annual sales of approximately $300 million and is headquartered in Lakeland, Florida, with a branch in Pompano Beach, Florida. The Company services over 4,200 accounts, primarily restaurants, schools, universities and health care institutions, with a range of food and related non-food items. Mutual is also a Certified Angus Beef® brand distributor in Pompano Beach, Florida.
“We look forward to welcoming Mutual into the U.S. Foodservice family,” said Jim Miller, President & CEO of U.S. Foodservice. “Mutual has a strong tradition and history as a family-owned business and we intend to maintain its unique presence in its current markets.”
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Herman Lewis, Chairman of Mutual, stated, “The recent combination of U.S. Foodservice and PYA/Monarch created an ideal partner for Mutual and we look forward to filling the U.S. Foodservice void in the fast growing central and south Florida regions. Leveraging U.S. Foodservice’s broad array of products and services should allow us to provide even more value to our customers than before.”
U.S. Foodservice is the second-largest food distributor in the United States with annualized sales of approximately $12 billion and a nationwide reach through its 55 distribution centers. The company markets and distributes a wide range of national and proprietary brand items to over 200,000 foodservice customers, including restaurants, hotels, healthcare facilities, cafeterias and schools. U.S. Foodservice acquired PYA/Monarch, a broadline foodservice distributor operating in the southeastern U.S. with approximately $3 billion of annual revenues, in December 2000.
