COSTA MESA, Calif., July 27, 2005 (PRIMEZONE) -- SYSCO Corporation (NYSE:SYY) has acquired privately held Walker Foods Inc. Transaction terms were not disclosed.
RSM EquiCo Capital Markets, the broker-dealer subsidiary of RSM EquiCo Inc., initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Walker Foods.
"SYSCO acquired Walker Foods primarily to expand its presence on the East Coast. With the addition of the seller's existing customer base, this acquisition will ensure the company's future growth in the catering and hospitality markets," said Randy Krauthamer, managing director for RSM EquiCo Capital Markets.
About RSM EquiCo Inc.
RSM EquiCo is a global provider of investment banking services to private companies with annual revenues of up to $500 million. We bring together companies, capital and creativity on a national and international scale to help our clients achieve their personal and strategic objectives. The firm is part of RSM McGladrey Inc., a business segment of H&R Block.
About Walker Foods
Founded in the 1920s, Walker Foods imports and distributes specialty food items including dairy, pastry, grocery, gourmet and cheese products. Based in Springfield, New Jersey, the company supplies restaurants, airline caterers, schools, health care facilities, hotels and other food distributors primarily in New York, New Jersey and Pennsylvania. Walker Foods operates and maintains a U.S. Customs-approved container station, which accommodates the consolidation and distribution of imported goods.
About SYSCO Corporation
Based in Houston, Texas, SYSCO Corporation is the largest foodservice marketing and distribution organization in North America. SYSCO provides food, supplies, equipment and related services to approximately 400,000 health care, educational, lodging and restaurant establishments. The company, which generated sales of $30 billion for calendar year 2004, employs more than 47,000 associates and has operations located throughout the United States and Canada.