FreshPoint intends to acquire distributor
Mar 3, 2004 12:00 PM, from staff and wire reports
Sysco Corp, the Houston TX-based foodservice marketer and distributor, has announced that its FreshPoint produce subsidiary has signed a letter of intent to acquire Overton Distributors Inc.
Overton is a full-line fresh fruit and vegetable foodservice distributor with locations in Nashville TN, Charlotte NC, and Raleigh NC. Terms of the acquisition, which is subject to completion of Sysco's due diligence and execution of a definitive agreement, were not disclosed. The transaction is expected to close by March 15, 2004.
Headquartered in Nashville, Overton was founded in 1932. The company supplies foodservice operations throughout Tennessee, North Carolina, and South Carolina. John Beasley, majority owner and president of Overton since 1985, will remain as president with responsibility for the three operations.
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