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Sysco acquired Newport Meat in 1999, [16] which at the time had sales of approximately $100 million per year. This was the company's first acquisition of a California company. [ 17 ] Between 1995 and 2000, Sysco's annual sales increased from $12 billion to $19 billion. [ 14 ]
The company was originally founded as a trucking outfit [2] by Chris Rufer, who remains the sole owner. [3] Morning Star processes about 40% of the California processing tomato production, and supplies a significant portion of the U.S. industrial tomato paste and diced tomato markets. [4] It processes about 5 million tons of tomatoes each year. [5]
To help finance the A.E. Staley acquisition, Tate & Lyle pre-sold CFS Continental to the foodservice giant Sysco for $360 million. Not forgetting the owners had to give over 50% of their profit to taxes and debt. Sysco generated sales of $3.7 billion (1987) and CFS Continental generated sales of $2.4 billion (1987).
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An owner-operator is a small business or microbusiness owner who also runs the day-to-day operations of the company. Owner-operators are found in many business models and franchising companies in many different industries like restaurant chains , health care , logistics , maintenance, repair, and operations .