Posted on Wednesday 13 June 2012 by Ulster Business
Michael Morrissey and David, Connor and Paul Bell of Crossgar Foodservice are pictured with Enterprise Minister Arlene Foster announcing a major contract win last year. The firm is now being acquired by a US-owned company.
The acquisition of Crossgar, a privately owned foodservice supplier headquartered in Seaforde, is being done through Pallas Foods, the Co Limerick based subsidiary which Sysco took over in 2009.
Both Crossgar Foodservice and Pallas Foods will retain their existing brand identities, and management teams at the two companies will remain in place, a statement said.
Financial details of the deal, which is subject to Competition Authority approval in the Republic of Ireland, were not disclosed.
Crossgar Foodservice has four facilities in Northern Ireland. The company’s product range includes poultry, meat, chilled, frozen, grocery and non-food items, which is sold throughout the island of Ireland and Great Britain.
Gerald Bell, Chairman of Crossgar Foodservice, said: “We are very pleased to join the Sysco Family and to work with Pallas Foods to strengthen Sysco’s operations across Ireland. The transaction provides the business with a number of benefits, namely enhanced distribution and wider product choice for our customers. We look forward to providing the same great service to our customers and showing them an even broader line of quality-assured foodservice products."
Sysco is a 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. It generated sales of $39bn in its 2011 financial year.
Speaking about its latest acquisition, Mike Green, Executive Vice President and Group President for Sysco, said: “Crossgar Foodservice is a strong company with excellent customer relationships. This investment, along with the acquisition of Pallas Foods in 2009 represents our commitment to the Ireland market and provides us additional strategic opportunities. We look forward to welcoming Crossgar Foodservice to Sysco.”