Sysco (SYY) to Acquire Chicago-Based European Imports
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Price: $77.07 -0.28%
Overall Analyst Rating:
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Dividend Yield: 2.6%
Revenue Growth %: +4.4%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 2.6%
Revenue Growth %: +4.4%
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Sysco Corporation (NYSE: SYY) today announced that it has reached an agreement to purchase Chicago-based European Imports, Ltd. The acquisition is expected to be completed in the coming weeks.
European Imports, which in its most recent fiscal year had annualized sales of $124 million, was founded in 1978 by Seymour Binstein, beginning as a cheese importer supplying primarily the Chicago market. Today, it has emerged as a full-line specialty food distributor to the central United States with concentration in the Midwest, Texas, Arizona, Colorado and Atlanta.
The management team and employees of European Imports will remain with the company, resulting in no changes in how customers, suppliers and vendors are served by European Imports.
European Imports, which in its most recent fiscal year had annualized sales of $124 million, was founded in 1978 by Seymour Binstein, beginning as a cheese importer supplying primarily the Chicago market. Today, it has emerged as a full-line specialty food distributor to the central United States with concentration in the Midwest, Texas, Arizona, Colorado and Atlanta.
The management team and employees of European Imports will remain with the company, resulting in no changes in how customers, suppliers and vendors are served by European Imports.
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