TORONTO — Sysco Canada, a wholly owned subsidiary of Sysco Corporation (NYSE:SYY), announced that it has agreed to acquire Tannis Trading, Inc., a broadline foodservice distributor in Ottawa, Ontario.
While financial terms of the proposed transaction were not disclosed, Tannis Trading had revenues of approximately $118 million (Canadian) in its most recent fiscal year. The transaction's completion is subject to review by Canadian regulatory agencies.
"Tannis has a 75-year history of providing quality service to customers in Ottawa, Canada's fourth-largest metropolitan market, and the surrounding areas," said Randy White, president of Sysco Canada. "This acquisition demonstrates Sysco's commitment to better serve our customers, improve our service footprint, grow our business and achieve our goal of increasing sales in Canada."
Upon completion of the transaction, the Tannis distribution facility in Ottawa will remain in place along with the existing employees and management team.
About Sysco
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. The company operates 194 distribution facilities serving approximately 425,000 customers. For Fiscal Year 2014 that ended June 28, 2014, the company generated sales of more than $46 billion. For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter at https://twitter.com/Sysco.
Source: Sysco
