Sysco sets a second Latin American investment for 2014
By Chris Scott on 11/13/2014
Sysco Corp. is awaiting regulatory permission from the Mexican government before it can complete the purchase of a 50-percent stake in Pacific Star Foodservice, a foodservice distributor serving several markets in Mexico.
Houston-based Sysco will pay an undisclosed price for the Pacific Star stake, a company that has 534 employees and a management team that will remain with the company once the deal closes. Privately held Arancia S.A. de C.V. is the majority stockholder of Pacific Star, which serves restaurant and foodservice customers in Mexico City, Guadalajara, Monterrey and Tijuana.
Sysco officials said the deal fits its international expansion strategy and reinforces its position as North America’s leading marketer and distributor of food products to restaurants, healthcare and educational facilities. In June, Sysco also acquired a 50-percent stake in Mayca Distribuidores S.A., a foodservice distributor in Costa Rica as part of its international expansion.