Costa Rica: Food Service Company Bought

The global food service firm Sysco Corporation has announced the purchase of the remaining 50% of Mayca Distributors, in a transaction whose amount was not disclosed.

Monday, November 6, 2017

This announcement represents the completion of the acquisition process, which began in 2014, when Sysco bought 50% of the wholesale supermarket chain.

From a statement issued by Sysco Corporation:

HOUSTON and HEREDIA, Costa Rica, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, announced today that it has acquired the remaining 50 percent of Mayca Distribuidores, a leading food distributor across Costa Rica, in a cash transaction for an undisclosed price.

“We are excited to officially welcome our partners from Mayca into the Sysco family of companies,” said Scott Sonnemaker, Sysco’s senior vice president-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.”

In 2014, Sysco entered into a partnership with Mayca, purchasing 50 percent of the 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.”

Mayca 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, in addition to a cold-storage company and a truck leasing company.

In April, Mayca moved into a 170,000 square-foot facility, the largest foodservice distribution center in Central America, designed to represent the best in technology and energy efficiency. The new facility supports growth through greater operational efficiency, as well as the commercialization of new products and a further enhanced customer experience.

With the announcement, Jose Maroto will continue in his role as CEO of Mayca and add new responsibilities as Sysco’s vice president 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. Sysco expects there to be no other operational changes to the business and plans to retain all current employees.

About Sysco
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 away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With over 65,000 associates, the company operates approximately 300 distribution facilities worldwide and serves more than 500,000 customer locations. For fiscal 2017 that ended July 1, 2017, the company generated sales of more than $55 billion.

For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter at https://twitter.com/Sysco.  For important news and information regarding Sysco, visit the Investor Relations section of the company's Internet home page at http://investors.sysco.com/, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information.  Investors should also follow us at www.twitter.com/SyscoStock and download the Sysco IR App, available on the iTunes App Store and the Google Play Market. In addition, investors should continue to review our news releases and filings with the Securities and Exchange Commission.  It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.

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From a press release issued by Sysco Corporation:

Sysco enters into partnership with Costa Rica Mayca Distribuidores

HOUSTON and HEREDIA, Costa Rica, May 13, 2014 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE:SYY), North America's leading foodservice distributor, today announced that it has reached an agreement to purchase 50 percent of Mayca Distribuidores S.A ("Mayca") of Costa Rica and Mayca's three other affiliates for an undisclosed price. According to the terms of the agreement, Sysco will own one-half of the stock in privately held Mayca.