Sysco Corporation, a global foodservice distribution company, announced Friday it has entered into an agreement to acquire Greco and Sons from Arbor Investments and the Greco Family. Greco and Sons is an independent Italian specialty distributor in the United States that operates 10 distribution centers servicing 22 geographies nationwide with approximately $800 million in annual revenue.
Founded in 1990, Greco and Sons imports and distributes a full line of premium quality food and non-food products as well as manufactures value-added specialty meat products. Upon completion of the transaction, Greco and Sons will operate as a standalone division within Sysco, similar to its existing specialty produce and protein businesses. Sysco expects to retain the executive leadership team of Greco and Sons, as well as all current associates.
Greco and Sons and its family of foodservice companies offer more than 15,000 products and service over 8,000 customers including independent restaurants, pizzerias, hotels, country clubs, quick serve establishments, bars, schools and grocery stores.
“We are excited to welcome Eddie Greco and the rest of the Greco and Sons family to Sysco. The addition of this company to Sysco’s portfolio will enable us to better serve Italian-focused customers by establishing a new cuisine-focused selling platform. Greco has a go-to-market approach to serve the Italian segment, and we are committed to maintaining that and expanding the capability to new geographies, over time,” said Kevin Hourican, Sysco’s president and chief executive officer. “The Greco team will bring experience and expertise to this high growth sector, along with a track record of exceptional customer service and a selection of exclusive premium products. Our combined value proposition will help both our companies achieve greater growth through a differentiated and tailored customer experience.”
The acquisition is subject to regulatory approval and other customary closing conditions.