Leading food service distributor Sysco Ireland has entered into an agreement to acquire specialist produce supplier Ready Chef, subject to regulatory approval. Ready Chef supplies fresh and prepared fruit and vegetables to the Irish food service sector. It currently employs 100 people at its depot in Glasnevin and generated revenue of €18.9 mln in 2022.
According to Mark Lee, CEO of Sysco Ireland, the acquisition would help the company to broaden its range and service capability in fresh and prepared produce and solidify its position as an industry leader.
"Sysco Ireland evolved from a family-owned business, and we are committed to accelerating Ready Chef’s growth while preserving their family business legacy. This transaction will bring together the expertise, resources, and talent of both organisations to deliver even greater value and choice to our customers. Following the completion of this transaction, Ready Chef will function as an independent division of Sysco Ireland, mirroring the approach taken with our Classic Drinks business.”
Sysco Foods Ireland Unlimited Company reported a profit of €15.9 mln last year following a loss of €8.8 mln in 2021 while turnover grew year-on-year from €248.4 mln to €459.3 mln. The company had shareholders' funds of €101.4 mln as of July 2022
Source: businessplus.ie