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ID NEWS: Sysco to acquire division of Colorado Boxed Beef and its J&B unit

Sysco Corp., Houston, has signed a letter of intent to acquire the specialty meat-cutting division of Colorado Boxed Beef Co., Auburndale, FL, and its affiliated broadline foodservice operation, J&B Foodservice. The deal is expected to close by the end of April. Net assets to be acquired amount to approximately $76 million in sales.

Howard Halpern, president and ceo of Sysco's Atlanta-based Buckhead Beef subsidiary will assume added duties as chairman of the meat-cutting company, which will take the name Buckhead Beef of Florida, upon completion of the acquisition.

Not included in the purchase are Colorado Boxed Beef's segments serving cruise lines, retail boxed beef distribution, New Generation irradiated products or customized distribution. These segments will retain the Colorado Boxed Beef identity.

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