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.