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.