Sysco Announces Plans to Acquire Leading Equipment & Supplies Distributor Edward Don & Company
HOUSTON, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY) announced today it has agreed to acquire Edward Don & Company (DON), a leading distributor of foodservice equipment, supplies, and disposables based in Chicago, IL. Founded in 1921, DON generates approximately $1.3 billion in annual revenue, servicing a broad range of restaurant, foodservice, and other customers across the United States.
This acquisition will allow Sysco to add strategic new capabilities and diversified offerings to complement its existing business and create a specialty Equipment and Supplies platform that will provide better selection and service to customers. Specifically, DON will bring:
- A broad distribution footprint with over 1.4 million square feet of distribution centers and office space in key U.S. geographies,
- A dedicated and experienced field sales team focused on equipment and supplies, and
- Design and build capabilities that complement our existing business.
Upon completion of the transaction, DON will operate as a standalone specialty division within Sysco. In addition, Sysco expects to retain the leadership team of DON, as well as all current employees.
“We’re thrilled to announce our plans to acquire Edward Don & Company, a leader in the equipment and supplies industry for over 100 years,” said Kevin Hourican, Sysco’s President and Chief Executive Officer. “This exemplary business, led by Steve Don and a strong leadership team, will drive accretive value to Sysco’s business and enable Sysco to better serve our customers with a more complete product assortment. Additionally, this transaction will further demonstrate our Recipe for Growth strategy. We are excited to introduce our hundreds of thousands of customers to Edward Don’s compelling assortment and robust supply chain capabilities.”
The acquisition is subject to regulatory approval and other customary closing conditions.
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. With more than 72,000 colleagues, the company operates 334 distribution facilities worldwide and serves approximately 725,000 customer locations. For fiscal year 2023 that ended July 1, 2023, the company generated sales of more than $76 billion. Information about our Sustainability program, including Sysco’s 2022 Sustainability Report and 2022 Diversity, Equity & Inclusion Report, can be found at www.sysco.com.
For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoFoods. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at 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. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.
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