In a Feb. 20 presentation at the Consumer Analyst Group of New York conference in Boca Raton, Joel T. Grade, executive vice president and chief financial officer of Sysco, briefly discussed the role of mergers and acquisitions for the Houston-based company.
A day before Sysco’s presentation at CAGNY, the company announced the acquisition of Doerle Food Services, a Broussard, Louisiana-based broadline distributor with approximately $250 million in annual foodservice distribution sales. Grade said the acquisition of Doerle fits Sysco’s strategy of expanding in existing markets, in this case, the Southeastern United States.
“Those (acquisitions of Doerle and Kent) would qualify as those things that would supplement, opened again, whether it’s geographies or areas that we actually see customer synergies in our existing markets,” Grade said.
Meanwhile, Sysco continues to explore “thoughtfully expanding into new geographic markets,” Grade said.
“(Brakes) obviously entered us really into the European market in a strong way,” Grade said.