Sysco has agreed to acquire Greco and Sons, an independent Italian specialty distributor based in the US, from Arbor Investment and the Greco family.
Founded in 1990, Greco and Sons specialises in Italian food and imports and distributes over 15,000 products – including cheeses, olive oil, tomatoes, fresh and dry pasta, canned goods and fresh produce – while also manufacturing specialty meat products.
Greco and Sons and its family of foodservice companies service over 8,000 customers including independent restaurants, pizzerias, hotels, country clubs, quick serve establishments, bars, schools and grocery stores.
The company operates ten distribution centres and reportedly has $800 million in annual sales.
Upon completion, Greco and Sons will operate as a standalone division within Sysco and will retain its current executive leadership team and associates.
“The addition of this great company to Sysco’s portfolio of specialty companies will enable us to better serve Italian-focused customers by establishing a new cuisine-focused selling platform,” said Kevin Hourican, Sysco’s president and chief executive officer.
He added: “Greco has perfected a go-to-market approach to serve the Italian segment, and we are committed to maintaining that excellence and expanding the capability to new geographies, over time.
“The Greco team will bring significant experience and considerable expertise to this high growth sector, along with a track record of exceptional customer service and an extensive selection of exclusive premium products. Our combined value proposition will help both our companies achieve greater growth through a highly differentiated and tailored customer experience.”
The deal was made for an undisclosed sum and is subject to regulatory approval and customary closing conditions.
In 2019, Sysco acquired Illinois-based foodservice distributor Waugh Foods, as well as Armstrong Produce and Kula Produce, Hawaii-based produce wholesalers and distributors.
© FoodBev Media Ltd 2021
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