Sysco Acquires Supplies on the Fly
July 01 2016 - 04:05PM
Sysco Corporation (NYSE:SYY) today announced it has acquired
Supplies on the Fly, an innovative e-commerce platform providing
restaurant supplies and equipment exclusively to Sysco customers.
The price of the acquisition was not disclosed.
Headquartered in Kennesaw, Ga., Supplies on the Fly allows Sysco
customers to place orders for more than 170,000 products online or
by telephone via an e-commerce platform that is fully integrated
with Sysco’s business information systems. In 2009, Sysco entered
into an agreement with Instawares Holding, LLC, the owner of
Supplies on the Fly, to develop www.suppliesonthefly.com. Sysco
also secured an option to purchase all of the equity interests of
Supplies on the Fly, which it has now exercised.
“We are very excited to welcome our partners from Supplies on
the Fly into the Sysco family of companies and we look forward to
maximizing this opportunity to drive new growth in the $10 billion
restaurant supplies and equipment segment,” said Bill Day, Sysco’s
executive vice president of merchandising and Sysco business
services. “With annual revenue of approximately $105 million,
Supplies on the Fly has delivered consistent and impressive sales
growth over the past three years, significantly outpacing category
growth in supplies and equipment over the same period.”
Craig Callaway, chief executive officer, will continue to manage
Supplies on the Fly, reporting to Day. Sysco expects to retain all
current employees of Supplies on the Fly and continue business as
usual under the leadership of Callaway and his team.
About SyscoSysco 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 2015 that ended June 27, 2015, the
company generated sales of more than $48 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. For important news and information
regarding Sysco, visit the Investor Relations section of the
company’s Internet home page at www.investors.sysco.com, which
Sysco plans to use as a primary channel for publishing key
information to its investors, some of which may contain material
and previously non-public information. Investors should also follow
us at www.twitter.com/SyscoStock and download the Sysco IR App,
available on the iTunes App Store and the Google Play Market. In
addition, investors should continue to review our news releases and
filings with the Securities and Exchange Commission. It is possible
that the information we disclose through any of these channels of
distribution could be deemed to be material information.
For More Information:
Neil Russell
Investor Contact
T: 281-584-1308
Nehl Horton
Media Contact
T: 281-899-4759
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