Sysco grows european business with Kent Frozen Foods acquisition

17-Jan-2018 - USA

Sysco Corporation (NYSE:SYY) has signed a definitive agreement to acquire Kent FrozenFoods, a successful UK-based foodservice distributor with revenue in the year ended 31 December 2016 of £47 million.

The acquisition, which is conditional upon approval from the Competition and Markets Authority, will see Kent Frozen Foods join Sysco’s otherUK businesses, including Brakes, Fresh Direct and M&J Seafood.

“Kent Frozen Foods will complement Sysco’s other UK businesses perfectly,” said Ajoy Karna, Sysco’s senior vice president, InternationalFoodservice Operations – Europe. “Our businesses share many values, including a strong family heritage and customer-led culture and willbenefit from complementary strengths in product offering and geography.”

Karna added, “The management team at Kent Frozen Foods has done a fantastic job building their business, which focuses heavily onindependent customers, making it a perfect addition to our portfolio of businesses in the UK. We’re delighted that they and their loyal employeeswill be joining the Sysco family.”

Kent Frozen Foods will continue to operate as an independent entity, but will enjoy the support of the world’s largest foodservice company, Sysco,with the opportunity to capitalise on closer working relationships with Sysco’s other UK and European businesses where appropriate.

Chris Beckley, Kent Frozen Foods CEO, said, “We are thrilled to be joining the Sysco family. For our business, our colleagues and customers,having the added benefit of support from the world’s largest foodservice company presents an exciting and positive time ahead for all of us.”

Kent Frozen Foods is headquartered in Kent, with distribution facilities in Aylesford (Kent) and Witney (Oxfordshire).

https://www.yumda.com/en/news/1152915/sysco-grows-european-business-with-kent-frozen-foods-acquisition.html