Foodservice Equipment Reports

Sysco Wraps Up Brakes Group Buy

On July 5, Texas-based Sysco Corp. completed its US$3.1 billion acquisition of the London-based foodservice distributor, Brakes Group. Combined, the companies’ annualized sales are pegged at US$55 billion.

Brakes Group CEO Ken McMeikan will continue serving in his position.

Sysco expected the acquisition to be finalized sometime in July after receiving the go-ahead from the European Commission, which on June 9 unconditionally cleared the acquisition of Brakes Group from Boston-based Bain Capital Private Equity.

Brakes Group has operations in the U.K., Ireland, France, Sweden, Spain, Belgium and Luxembourg. Sysco’s current footprint includes operations in the United, Canada, Ireland, Northern Ireland and the Bahamas, as well as joint ventures in Mexico and Costa Rica.

Related Articles

Sysco To Buy US Foods For $3.5 Billion

US Foods To Buy SGA Food Group For $1.8 Billion

DEALER BUYING GROUPS BUSY IN MEETING SEASON