Since acquiring the Food Group of Companies for $1.8 billion, US Foods is still seeing an upward growth trend. The distributor recently announced its fourth quarter and fiscal year 2019 results, in which it described that key acquisitions and new products were instrumental to its success.
“Our Great Food. Made Easy. strategy continues to resonate with customers, with 56 new Scoop products launched during the year and continued enhancements to our value-added services platform,” said Chairman and CEO Pietro Satriano. “The integration of the Food Group is progressing as planned with a new leadership organization in place and the successful launch of our best-selling Scoop products in our Northwest markets now complete. We are confident in the future growth prospects for our business and our ability to achieve the 2020 guidance targets we have set for the year."
According to a press release, highlights from US Foods’ fourth quarter fiscal 2019 included:
“In fiscal 2019, we continued to profitably grow our business while expanding our operating leverage for the fourth consecutive year,” continued Satriano. “Full year organic Adjusted EBITDA growth of 6.2 percent was in line with our guidance for the year and we grew Adjusted Diluted EPS by almost 10 percent.”
Additional highlights from fiscal year 2019 included:
With such a successful ending to its 2019, US Foods is already charting the same growth for 2020. To read the distributor’s financial report in its entirety, click here.
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