agrees to acquire
Jun 14, 2012 10:49 AM
Sysco Corporation has signed an agreement to acquire Crossgar Foodservice, a privately owned foodservice supplier headquartered in County Down, Northern Ireland, through its subsidiary, Pallas Foods, which is based in Newcastle West, County Limerick. Financial details of the transaction, which is subject to Competition Authority approval in the Republic of Ireland, were not disclosed.
The acquisition will expand Sysco’s presence on the island of Ireland. Sysco acquired Pallas Foods in 2009. Both Crossgar Foodservice and Pallas Foods will retain their existing brand identities, and management teams at the two companies will remain in place.
Mike Green, executive vice-president and group president for Sysco, said, “Crossgar Foodservice is a strong company with excellent customer relationships. This investment, along with the acquisition of Pallas Foods in 2009, represents our commitment to the Ireland market and provides us additional strategic opportunities. We look forward to welcoming Crossgar Foodservice to Sysco.”
Sysco operates 177 distribution facilities serving about 400,000 customers. For more details, visit www.sysco.com.
Since the early 1980s, Pallas Foods has evolved into one of the leading foodservice distributors on the island of Ireland under the leadership of the Geary family. Part of Sysco since March 2009, it has a team of 550 employees. The company offers fresh, frozen, ambient and non-food products, across the island of Ireland through its own delivery fleet. The company operates from a central warehouse in Newcastle West through eight distribution/delivery centers across the island.
Employing 238 people, Crossgar Foodservice has four facilities in Northern Ireland. The company’s product range includes poultry, meat, chilled, frozen, grocery, and non-food items, which are sold throughout the island of Ireland and Great Britain.
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