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Sysco Corporation (short for Systems and Services Company) is an American multinational corporation involved in marketing and distributing food products, smallwares, kitchen equipment and tabletop items to restaurants, healthcare and educational facilities, hospitality businesses like hotels and inns, and wholesale to other companies that provide foodservice (like Aramark and Sodexo).
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).
Brake Bros Limited has been a subsidiary of Sysco Corporation since 5 July 2016 when the latter bought it for $3.1 billion. [ 7 ] [ 8 ] Its customers include schools, contract caterers, hospitals, hotels, independent dining establishments and various large restaurant chains.
Schnieders began his career in the meat department of a regional grocery store, before moving on to sell meat for a national company, and later serving as the general sales manager for a foodservice distributor. He began working for Sysco in 1982, joining an executive management program at the company's Memphis subsidiary. [1]
In 2009, US Foodservice was still privately held, and was the second largest broadline foodservice distributor in the U.S. with $18.97 billion in revenue and 24,687 employees. SYSCO was the largest foodservice distributor. [44]
The Foodservice distributor market size is, as of 2015, $231 billion in the US; the national broadline market is controlled by US Foods and Sysco which combined have a 60-70% share of the market and were blocked from merging by the FTC for reasons of market power.
A food service distributor functions as an intermediary between food manufacturers and the food service operator (usually a chef, food service director, food and beverage manager, and independent food preparation businesses operator owners.) The distributor purchases, stores, sells, and delivers those products, providing food service operators ...
He started his career in the frozen foods business by co-founding Global Frozen Foods with a brother-in-law. He founded Sysco in 1969 with John F. Baugh and Harry Rosenthal and served as the company's vice chairman and chair of the finance committee. [2] He stepped down as vice chairman of Sysco's board in 1992 and remained a director until ...