Sonoma Creamery Cheese Crisp Bars - Waking up the bar category - From the makers of parmesan crisps and Mr. Cheese Os
Beemster makes it better
Sysco Announces Increased Profits and Sales, Complete Acquisition of Mayca Distribuidores

Sysco Announces Increased Profits and Sales, Complete Acquisition of Mayca Distribuidores


HOUSTON, TX
Monday, November 6th, 2017

Sysco announced robust first quarter fiscal 2018 results this week—with solid growth in sales and profits. And the rapidly-growing foodservice company also announced the completed acquisition of leading Costa Rican food distributor Mayca Distribuidores.

Highlights from the company’s first fiscal quarter include:

  • Sales increased 4.9% to $14.7 billion
  • Gross profit increased 3.8% to $2.8 billion; gross margin decreased 20 basis points to 19.07%
  • Operating income increased 9.9% to $623 million; adjusted operating income increased 5.6% to $662 million
  • Earnings Per Share (EPS) increased $0.11 to $0.69; adjusted EPS increased $0.07 to $0.74
  • Operating income was $781 million, an increase of $36 million, or 4.8%, compared to the same period last year

Bill DeLaney, CEO, Sysco “We continue to consistently execute our customer-centric strategy in a cohesive and effective manner, as our U.S. Foodservice Operations delivered solid first quarter results, more than offsetting the softer performance of our International Foodservice Businesses,” said Bill DeLaney, Sysco’s CEO, in a company press release. “In doing so, we largely mitigated the unfavorable near-term financial impact of multiple devastating hurricanes in several of our key markets. I am exceedingly proud of our 65,000 associates who collectively supported our customers, communities, and each other throughout the quarter.”

Though the company noted “mixed results across…various businesses” in its international foodservice operations, sales for international foodservice operations rose 6.4% to $2.9 billion. And though operating income and adjusted operating income were down internationally, Sysco noted its excitement over the acquisition of Mayca Distribuidores in a separate press release.

Scott Sonnemaker, SVP-International Foodservice Operations, Americas, Sysco“We are excited to officially welcome our partners from Mayca into the Sysco family of companies,” said Scott Sonnemaker, Sysco’s SVP-International Foodservice Operations, Americas. “Increasing our international presence has been a large part of our strategy in recent years, and the success and growth we have seen in Costa Rica are great examples of our strategy at work.”

Sysco initially partnered with Mayca in 2014 after purchasing 50% of the company. The Costa Rican company has been in business since 1995, and in addition to its distribution business, has a retail cash-and-carry affiliate with twelve locations, and three additional locations under construction as well as a cold-storage company and a truck leasing company.

“The closing of this acquisition is a huge benefit to our associates and customers,” said Jose Maroto, Mayca’s CEO and President. “Our customers will continue to benefit from the wide variety of Sysco’s product assortment, eCommerce solutions, services and expertise.”

Sysco truck

In April, Mayca moved into a 170,000 square-foot facility, one of the largest foodservice distribution centers in Central America, designed to represent the best in technology and energy efficiency. Following the acquisition, Maroto will continue to serve as CEO and add new responsibilities as Sysco’s VP of Business Development, Central and South America, to assist with executing Sysco’s strategy by growing business in Costa Rica and the surrounding regions. Osael Maroto, Mayca’s Operations Manager, will assume the role of President.

Deli Market News will continue to report on important foodservice developments in our industry.

Sysco
Topics:

In This Story


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...



Sonoma Creamery Cheese Crisp Bars - Waking up the bar category - From the makers of parmesan crisps and Mr. Cheese OsBeemster makes it better

Have a new product, press release or story idea?

Let us know

Vienna® Beef Celebration Marks 125 Years as Chicago’s Favorite Hot Dog

Iconic hot dog brand welcomes governor and community for a Chicago-Style party.
View Press Release

Moo've Over, Yogurt: Kansas State University Students Win First Place in Dairy Council's New Product Competition

A new creamy protein-rich dairy drink has Kansas State University success written all over it.
View Press Release

Inc. Magazine Unveils Its 37th Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000

For the 8th Time, Hissho Appears on the Inc. 5000, Ranking No. 3893. With Three-Year Revenue Growth of 91.7 Percent
View Press Release

WCMA Adds Staff as Member Services Expand

The association has welcomed Sara Schmidt as its new Office and Member Service Coordinator, working to support WCMA’s expanded array of benefits to member organizations.
View Press Release

Now It's Official! Flow is a Business Doing Good

BeeInventive, the company behind the multiple award-winning “honey on tap” FlowHive, is now a Certified B CorporationⓇ.
View Press Release

Hissho Among 2018 Middle Market Leaders

Hissho has just been named #8 among the 2018 Middle Market Leaders honorees by Charlotte Business Journal.
View Press Release

Halton Group Acquires U.S. Indoor Air Equipment Manufacturer

The acquisition makes the company a part of Halton's Foodservice business that specializes in professional kitchen environments.
View Press Release

Olive Oil Commission of California to Hold Workshops on Producing, Evaluating, and Protecting Olive Oil Quality

The goal of these workshops is to discuss the California Department of Food and Agriculture (CDFA) standards for Extra Virgin Olive Oil and to educate all sectors of the olive oil supply chain on best practices.
View Press Release