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Sysco to buy New York-based distributor Jenkins Foodservice

Sysco Corp. agreed to purchase New York-based food distributor Jenkins Foodservice Professionals, Sysco's CFO said Aug. 12.

Executive Vice President and CFO Joel Grade confirmed the planned purchase during a call with analysts to discuss Sysco's fourth-quarter and full-year results. Grade did not disclose the value of the deal or the timeline for closing the transaction, though he said Jenkins has $155 million in annual sales.

Sysco did not immediately respond to a request for details on the deal.

Pursuing "successful tuck-in and specialty acquisitions" as well as "larger, more strategic deals" are both part of Sysco's plans for its 2020 fiscal year, Grade said.