Sysco said the acquisition would help it establish a presence in the foodservice market outside of North America. "The combination of SYSCO's distribution and procurement channels with International Food Group's expertise in delivering products to international quick service restaurants will result in customers having access to a wider variety of foods and other supplies in those marketplaces. We are very enthusiastic about the operational synergies and future growth prospects that this acquisition provides," said Richard J. Schnieders, chairman and chief executive officer of Sysco.
International Food's 40 employees supply products to quickservice restaurants in the Caribbean, Central America, South America, Europe, Asia and the Middle East from a 75,000-sq.-ft. facility. The company generated $77.8 million sales in calendar year 2003.
Sysco said Joseph Blancato, who founded International Food Group in 1993, will remain as chairman, and Berry Wright, a nine-year veteran of IFG, will serve as president of the company.