Food distribution in the United States is a mature industry, which allows the industry’s larger competitors to purchase smaller companies and gain economies-of-scale and other financial synergies
Minneapolis, MN (PRWEB) February 14, 2013
Dan Mulvaney represented Appert’s Foodservice in its December 28, 2012 sale to food distribution giant Sysco. Mulvaney is a sell-side M&A advisor at Sunbelt Midwest in Minneapolis.
“The Seller, Appert’s Foodservice, had been contacted by interested buyers over the years, and we used this short-list to find the best buyer and then closed on a tight deadline. Confidentiality required a strong focus with only a limited number of people involved. Once Sysco was selected as the buyer, Sunbelt worked closely with the seller’s and buyer’s business, legal and accounting teams to close the transaction.”
Mulvaney continued, “Food distribution in the United States is a mature industry, which allows the industry’s larger competitors to purchase smaller companies and gain economies-of-scale and other financial synergies. Sysco reports sales of $40+ billion; Appert’s was a logical acquisition opportunity for them.”
Sysco plans to retain Appert’s 300 workers, keeping current pay and benefits.
Appert’s, a family owned business, started in 1935 serving customers in the Upper Midwest with primary distribution in Minnesota.
Sysco has more than 180 locations throughout the United States, Canada and Ireland.
About Sunbelt Midwest
Sunbelt Midwest is part of Sunbelt, the world's largest organization of M & A professionals. With five offices in Minneapolis, Chicago and Milwaukee, Sunbelt Midwest provides a strategic regional presence to Sunbelt’s 200+ worldwide offices. Sunbelt's M & A Advisors provide sell-side merger and acquisition services for companies with revenue between $5 and $50 million. Since 1978 Sunbelt has helped companies with mergers, acquisitions, divestitures, private equity investment and valuations. Sunbelt provides local investment banking expertise with worldwide geographic coverage to its business owner clients.