| Type | Public |
|---|---|
| Traded as | NYSE: SYY S&P 500 Component |
| Industry | Foodservice Distribution |
| Founded | 1969 |
| Headquarters | 1390 Enclave Parkway, Houston, Texas, U.S. |
| Key people | William J. DeLaney III, CEO Michael W. Green, Executive Vice President |
| Revenue | US$37.24 Billion (FY 2010)[1] |
| Operating income | US$1.97 Billion (FY 2010)[1] |
| Net income | US$1.18 Billion (FY 2010)[1] |
| Total assets | US$10.2 Billion (FY 2009)[2] |
| Total equity | US$3.45 Billion (FY 2009)[2] |
| Employees | 47,000 (2009) |
| Website | www.sysco.com |
Sysco Corporation (NYSE: SYY) is involved in marketing and distributing food products to restaurants, healthcare and educational facilities, hotels and inns, and other foodservice and hospitality businesses. The company is headquartered in the Energy Corridor district of Houston, Texas.[3]
Sysco, an acronym for Systems and Services Company, servicing over 400,000 customers which include a wide array of clientele, is the world's largest broadline food distributor. Management consulting is also an integral part of their services. As of July 2, 2005, the company operated 170 facilities throughout the United States and Canada. Most recently, Sysco expanded its operation into Ireland with the purchase of a local food distribution firm.[4] The company was founded by Herbert Irving and John F. Baugh in 1969. The company became public on March 3, 1970. On July 20, 2009, Fortune magazine ranked Sysco #204 in the annual Fortune 500 companies in world based on sales volume. On May 3, 2010, Fortune Magazine ranked Sysco as the 7th largest Fortune 500 Company in Texas and 55th largest in the US by total revenue.[5]
Sysco competes with national distributors US Foods, Performance Food Group, and Edward Don and Company, as well as regional companies such as Gordon Food Service, Ben E. Keith, Maines Food and Paper, and local foodservice distributors.
Sysco is also the largest non-oil related company in Houston and the 3rd largest non-oil related company in Texas (Behind AT&T and Dell).[5]
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In 2002, Sysco purchased SERCA Foodservices and renamed it Sysco Canada. SERCA had been owned by the supermarket giant Oshawa Group, which was acquired by Sobeys in 1998.
In 2003, Sysco purchased ASIAN FOODS the largest Asian foods distribution in North America. The first group of Asian Foods joined Sysco Kansas City in 2006, followed by Asian Foods Chicago join Sysco Chicago in Sep, 2009.
Sysco offers professional management consulting to its clients. The company helps restaurants to improve their performance through conducting market analysis, menu-designing, pricing strategy, and business planning.
The SYGMA Network, Inc. is a wholly owned subsidiary of Sysco that provides food and non-food products to chain restaurants throughout the United States.
SYGMA was founded in January 1984 when senior officers of Sysco Corporation started discussions for forming a new distribution company. The first products were shipped in May 1985 from SYGMA’s first distribution center in Oklahoma. In 1988, Sysco acquired CFS, increasing head count at the organization.
SYGMA's customers include over 14,000 restaurants representing 37 concepts. Operating from 17 distribution centers, SYGMA is one of the largest chain distributors in the United States with sales over $5.1 billion. 165 million cases of product are delivered each year. SYGMA currently employs approximately 2,800 employees.
Every Sysco Brand products has an "emblem of quality" that supposedly indicates varying standards of food safety, hygiene, and consistency. Sysco has 6 Brand Products,[6] which are:
In 2006, Sysco announced the formation of the iCare Program. iCare partnered Sysco with numerous vendors of non-foodservice related products that serve the restaurant industry to provide value-added services. iCare partners are afforded booth space at Sysco food shows and are promoted vigorously by Sysco's Business Review Managers. In return, iCare vendors offer special discounts and incentives to Sysco customer restaurants.
iCare partners include:
Sysco also owns Guest Supply, a more catalog-based service geared at hotels. Guest Supply does not employ marketing associates in the way Sysco does; most of the purchasing is done via their annual catalogs and online.
Sysco in 2009 bought out Pallas Foods which is the largest food distributor in the Republic Of Ireland.
The company is governed by a board of directors. Current members of the board are: John Cassaday, Judith Craven, Jonathan Golden, Joseph Hafner, Richard Merrill, Nancy Newcomb, Richard Schnieders, Phyllis Sewell, John Stubblefield, Richard Tilghman, and Jackie M. Ward.