The article Sysco Corporation Buys Waugh Foods Inc. was first published to Freeze Dry Meal's Blog
Waugh Foods has been in the food distribution business for a very long time. In fact, the company had already celebrated its 70th anniversary by the end of 2018. Today, Waugh Foods Inc. is one of the most successful distributors of healthy foods in the market today.
According to Week, this food company was founded in 1948 and it has a very rich history from its very humble beginnings.
East Peoria’s Waugh Foods to be sold to Texas company
“Waugh Foods has a long, rich history in the Central Illinois area, which includes strong relationships with local independent operators,” said Greg Bertrand, executive vice president, U.S. foodservice operations of Sysco. “We are excited to welcome Waugh into the Sysco family and believe this acquisition is a perfect complement to our existing local and regional presence.”
Part of why it is such a successful business is the strong relationship that it has built with local independent operators over the years.
According to Claudia Assis from Market Watch, Waugh Food Inc. has been acquired by Sysco Corporation after being in business for 70 years.
Sysco to buy regional food distributor Waugh Foods
Sysco Corp. SYY, +0.40% said late Monday it has agreed to buy Waugh Foods Inc. for an undisclosed amount. East Peoria, Ill.-based Waugh, a food distributor, has about $40 million a year in sales, Sysco said. Waugh Foods executives will continue to manage the business, Sysco said.
The report also shows that Waugh Foods Inc. has had a good sales trend in the last couple of years, doing an average of $40 Million in annual sales.
According to a report published by Food Bev, Sysco now operates more than 300 distribution facilities with so many customer locations.
Sysco buys Waugh Foods to grow foodservice distribution business
“We are excited to welcome Waugh into the Sysco family and believe this acquisition is a perfect complement to our existing local and regional presence.”The deal follows on from Sysco’s acquisitions last year of UK-based frozen food distributor Kent Frozen Foods and Louisiana-based Doerle Food Services.
Headquartered in Houston, Texas, Sysco operates approximately 330 distribution facilities worldwide and serves more than 600,000 customer locations. For the 12 months to 30 June 2018, the company generated sales of more than $58 billion.
According to an estimate of the income report given on the article, Sysco has made more than $58 Billion in annual sales in 2018 alone.
Conclusion
We do not know how much Sysco Corporation paid out to acquire Waugh Foods. According to Market Watch, the amount wasn’t disclosed.
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