US Foods (USFD) to Acquire Jeraci Foods; No Terms

September 30, 2016 12:01 PM EDT
Get Alerts USFD Hot Sheet
Trade USFD Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

US Foods (NYSE: USFD) today announced that it has agreed to acquire Jeraci Foods, an Italian specialty distributor based in Elmsford, New York.

Family owned since 1972, Jeraci Foods offers a complete line of authentic Italian and other imported and domestic food products to customers throughout the metro New York area. With more than $26 million in sales annually, Jeraci will enhance US Foods’ penetration in the Italian independent restaurant and pizzeria segment.

The Jeraci Foods location will remain open through the end of the year to ensure a smooth transition, after which the business will shift to the US Foods location in Perth Amboy, New Jersey.

“As a family owned business Jeraci Foods has built a strong reputation for great customer service and high quality food,” said Chuck Gannon, area president, US Foods. “At US Foods, we pride ourselves on those same characteristics and look forward to bringing an even more robust product offering to Jeraci customers.”

The transactions is expected to close on October 7. Terms of the acquisitions were not disclosed.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Corporate News

Related Entities

Definitive Agreement

Add Your Comment