It’s impossible not to get excited when we hear of potential foodservice acquisitions, but when Sysco’s name is tossed into the mix, it’s a sure-fire way to get the Deli Market News team talking. Sysco recently approached German wholesaler Metro AG about a possible acquisition, the Texan food giant is poised to expand significantly in Europe.
Metro would be “a perfect match from a regional perspective,” for Sysco, Baader Helvea analyst Volker Bosse wrote in a note to clients, as reported by Bloomberg. He added that the suitor “could create a lot of cost synergies by downsizing Metro’s headquarters functions."
Talks are still being held, but Sysco has been in contact with Metro in recent weeks. Both companies are working with advisers on how to move forward whether the transaction follows through or not.
Bloomberg further noted any transaction would be Sysco’s CEO Kevin Hourican’s first major move since he stepped in to lead the company earlier this year. Last month, we recently reported that Metro sold its Real hypermarket chain, but the wholesaler would still be able to offer Sysco access to hotel, restaurant, and catering clients throughout the continent.
How will the talks shake out? Deli Market News will continue to cover the latest in foodservice.