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US Foods Reports First Quarter Fiscal Year 2024 Earnings

rew Net Sales 4.8% to $8.9 Billion and Gross Profit 4.9% to $1.5 Billion

Net Income of $82 Million

Grew Adjusted EBITDA 6% to $356 Million and Reaffirms Fiscal Year 2024 Guidance

Closed on IWC Food Service Acquisition in April

US Foods Holding Corp., one of the largest foodservice distributors in the United States, today announced results for the first quarter fiscal year 2024.

First Quarter Fiscal 2024 Highlights

  • Net sales increased 4.8% to $8.9 billion
  • Total case volume increased 4.2%...
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May 9 9:20 AM, Urner Barry



Performance Food Group and Industry-Leading Partners Unveil Sustainable Distribution Center

Advanced Energy Machines, FreeWire, GridMarket and Volvo Trucks North America played key roles in facility transformation

In recognition of Earth Day 2024, Performance Food Group Company (PFG) (NYSE: PFGC), Advanced Energy Machines (AEM), FreeWire Technologies, GridMarket and Volvo Trucks North America, partnered to hold a special open house event at PFG’s Gilroy, CA facility to show how the companies have collaborated to help create a sustainable distribution center model of the future.

PFG is committed to mitigating its carbon footprint and being responsible stewards of the environment...

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Apr 24 8:00 AM, Urner Barry


Navis Food Partners Announces Partnership with Prime Source Foods

Prime Source Foods, a center-of-the-plate distributor based in Londonderry, NH, announced today that it joined Navis Food Partners, a partnership of independent foodservice distributors in the Northeast. Prime Source Foods is a large independently owned, center-of-the-plate food distributor in New England and eastern New York.

The acquisition of Prime Source Foods strengthens Navis Food Partners’ presence in the protein category as well as its geographic service footprint in New England. Together with City Line Distributors, Navis Food Partners now covers northern...

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Mar 14 8:00 AM, Urner Barry


US Foods Reports Fourth Quarter and Fiscal Year 2023 Earnings

US Foods Holding Corp., one of the largest foodservice distributors in the United States, today announced results for the fourth quarter and full fiscal year 2023.

Fourth Quarter Fiscal 2023 Highlights

  • Net sales increased 4.9% to $8.9 billion
  • Total case volume increased 5.6%; independent restaurant case volume increased 7.3%
  • Gross profit increased 9.4% to $1.6 billion
  • Net income available to common shareholders was $147 million
  • Adjusted EBITDA increased 10.9% to $388 million
  • Diluted EPS increased 59.5% to $0.59; Adjusted...
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Feb 15 8:49 AM, Urner Barry


Amazon Could Face Government Order Making It Liable for Third-Party Products

Order from Consumer Product Safety Commission could classify company as a distributor, giving it the same safety responsibilities as traditional retailers

Amazon.com is facing a government order that could make it responsible for the safety of goods that it sells for outside vendors on its website and ships for them through its logistics network.

The U.S. Consumer Product Safety Commission is preparing an order that could classify Amazon's online retail business as a distributor of goods, according to people familiar with the matter. That designation could give Amazon...

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Feb 2 8:00 AM, Urner Barry


United Natural Foods Expands Supply Chain Evolution with A.I.-Powered Warehouse Automation System

United Natural Foods, Inc. (NYSE: UNFI) (the “Company” or “UNFI”) today announced plans to implement an A.I.-powered robotic automation system in its soon-to-be-completed distribution center (DC), in Manchester, PA. This advanced system, manufactured by Symbotic, is the second installation for UNFI and part of the Company’s commitment to further enhance the effectiveness and efficiency of its distribution center network. Once installed, UNFI expects the system to enhance the customer experience, improve quality and service to customers, increase capacity within its facilities, and lower...

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Jan 29 9:28 AM, Urner Barry


GS Foods Group Acquires Diamond Foods – Expanding Operations in Louisiana

GS Foods Group, Inc. (“GS Foods”), a world-class foodservice partner owned by affiliates of Highview Capital, LLC (“Highview”) and A&M Capital Partners (“AMCP”), today announced its acquisition of Diamond Foods, a regional K-12 food distributor based in New Orleans, Louisiana.

A leader in food service distribution and product solutions, GS Foods has nearly 50 years of experience meeting the unique needs of its customers nationwide. By integrating Diamond Foods into their operations in Louisiana, GS Foods builds on its recent acquisition of Lamm Foods...

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Jan 25 8:06 AM, Urner Barry


GSF Leaders Appointed to Charity and Industry Boards

In recent months, several GSF leaders joined charity and industry boards, offering expertise and support to a variety of organizations. Serving on a board enables GSF associates to broaden their leadership skills, heighten their industry influence, and make a positive impact in the communities where GSF does business and where associates live.

For a three-year term beginning in 2024, the Association for Dressings and Sauces (ADS) appointed Trisha McRoberts, GSF’s Corporate Vice President and Chief Procurement Officer, to its Board of Directors. ADS represents manufacturers of salad dressing, mayonnaise, and condiment...

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Jan 18 7:55 AM, Urner Barry


Baldor Specialty Foods Announces New Hires; Further Expanding Its Senior Leadership Team

Baldor Specialty Foods, the Northeast and Mid-Atlantic's largest premium produce and specialty foods distributor announced today several additional strategic hires and structural changes aimed at enhancing customer service, achieving future goals, and ensuring continued growth and success.

Today, the company reported:

Seth Gottlieb joins as Senior Vice President of Logistics, bringing over a decade of experience from Fresh Direct, where he served as the VP of Logistics and Operations Planning. At Baldor, Gottlieb will oversee inbound and outbound logistics, further elevating efficiency from vendor deliveries to final... 

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Dec 13 10:27 AM, Urner Barry


Sysco Launches One Planet. One Table.

Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, launched its One Planet. One Table. assortment, the foodservice industry’s largest offering of certified and sustainably focused products.

The Sysco One Planet. One Table. assortment includes over 3,000 items across 15 categories that are:

  • Backed by one of 20+ leading sustainability certifications and standards,
  • Included in Sysco’s sustainability commitments for seafood or fresh produce, or
  • Plant-based alternative proteins.

“At Sysco, we're taking action to protect the health of our one and only planet. We have a growing market of customers looking for more...

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Nov 29 9:50 AM, Urner Barry


FourKites Appoints Industry Veteran Bill Maw as Chief Financial Officer to Drive Continued Growth

Leading supply chain visibility provider FourKites today announced the addition of Bill Maw as the company’s new chief financial officer (CFO). Maw brings a decades-long track record of successfully leading high-growth companies through financing rounds, mergers and acquisitions, and IPO readiness, and has built finance teams supporting businesses across the globe. He joins FourKites at a time of tremendous opportunity and growth for the company and the supply chain industry as a whole, as the real-time visibility pioneer leads the transition to increasingly... 

 

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Oct 31 11:58 AM, Urner Barry


RLS Logistics New Jersey Cold Storage Warehouse Expansion Opens

RLS Logistics, a leading cold chain solutions provider, announces the opening of its expansion at its Newfield, NJ cold storage warehouse. The expansion has brought capacity for all teams at this campus.

"We are excited to bring cold storage capacity to our Newfield cold storage warehouse. This development provides growth opportunities not only in our cold storage business but also in our direct to consumer fulfillment and cross docking warehouse business units," said Russell Leo, CEO of RLS Logistics.

Their New Jersey 3PL warehouses offer frozen and refrigerated shippers looking for...

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Oct 26 8:00 AM, Urner Barry


United Natural Foods Deploys New Zero-Emission Refrigerated Delivery System 

United Natural Foods, Inc. (NYSE: UNFI) (the “Company” or “UNFI”) today announces that it is taking its next steps toward a zero-emissions future by deploying two battery-electric semi-trucks and five regenerative electric refrigerated trailer systems. UNFI is deploying the trucks and trailers in the Sacramento and Gilroy, California markets, just in time for the peak holiday selling season.

UNFI worked with Penske Truck Leasing to secure two, class-8 electric trucks, which include the Freightliner eCascadia, and the Volvo VNR Electric models. Both vehicles are well equipped...

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Oct 18 8:00 AM, Urner Barry


Golden State Foods Promotes Four Senior Executives in Strategic Leadership Restructuring

Golden State Foods (GSF), one of the largest diversified suppliers to the foodservice and retail industries, is pleased to announce four leadership promotions of senior executives based in GSF’s Irvine, California corporate headquarters. As part of its strategic restructuring to support current and future business priorities, the company promoted Brian Dick to President and Chief Executive Officer; John Page to Executive Vice President and Chief Administrative Officer; Brad Tingey to Corporate Senior Vice President and Chief Financial Officer; and Stephen Wetterau to Corporate Senior Vice President, Strategy, Technology and...

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Jul 24 9:58 AM, Urner Barry


National Convenience Distributors Announces Acquisition of Colonial Wholesale Distributing, Inc.

National Convenience Distributors (“NCD”), the 4th largest wholesale distributor to the convenience industry, today announced the acquisition of Colonial Wholesale Distributing, Inc., one of the Southeast region's largest full-line wholesale distributors to the convenience and grocery store industries. Financial terms were not disclosed.

Colonial Distributing, founded in 1998 and located in Tampa, Florida, will join NCD as a newly created division and expand NCD’s geographical reach along the east coast from Maine to Florida. National Convenience Distributors now services thirteen (13) states...

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Jul 12 11:38 AM, Urner Barry


Imperial Dade Acquires Atlantis Packaging, Adds Scale in Southern California

Imperial Dade, a leading distributor of foodservice packaging supplies and janitorial supplies, today announced the acquisition of Atlantis Packaging (“Atlantis” or the “Company”). The transaction represents the 67th acquisition for Imperial Dade under the leadership of Robert and Jason Tillis, Chairman and CEO of Imperial Dade, respectively. Financial terms of the private transaction were not disclosed.

Owned and operated by Eric Rodriguez, Atlantis Packaging is a premier distributor of industrial products throughout Southern California and the United States. Eric’s father founded the business over 50-years ago and the Company...

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Jul 10 8:00 AM, Urner Barry


Imports Building Toward August Peak as One Labor Dispute Ends But Others Develop

Import cargo volume at the nation’s major container ports is expected to climb toward an August peak this summer, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates. But even though a tentative contract agreement has been reached at West Coast ports, retailers are closely following labor disputes at ports in western Canada and a potential Teamsters strike against United Parcel Service.

“We were relieved that labor and management at West Coast ports reached a tentative agreement last month...

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Jul 7 1:59 PM, Urner Barry


UniPro Member, Food Supply Inc. Partners with Pepper to Revolutionize Digital Ordering Experience

Food Supply Inc., a UniPro member and leading food distributor in the sunshine state, has announced a groundbreaking collaboration with Pepper, an innovative e-commerce solution for food distributors. The partnership aims to redefine the digital ordering experience for customers and enhance operational efficiency for Food Supply Inc.

As a forward-thinking company committed to delivering exceptional products and services, Food Supply Inc. recognizes the importance of embracing cutting-edge technology to stay ahead in the competitive market. By joining forces with Pepper, Food Supply Inc. is...

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Jul 6 9:37 AM, Urner Barry


Quality Custom Distribution Expands Southwest Foodservice Logistics Business 

Frisco, Texas-based Quality Custom Distribution (QCD), a Golden State Foods (GSF) company, has expanded operations in the Southwest U.S. market with two relocations to larger distribution centers in Albuquerque, New Mexico and Las Vegas, as well as a new facility opening this summer in San Antonio, Texas. Servicing nearly 7,500 customer stores in virtually every state, the QCD network will soon encompass 25 total distribution centers, making 35,000 last-mile deliveries weekly to four leading Quick Service Restaurant (QSR) brands.

"As our customers continue to thrive and expand in key U.S...

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Jun 27 8:59 AM, Urner Barry


Bringg and Ubeya Partner to Tackle Workforce Shortages

Bringg, the leading Delivery Management Platform (DMP) provider, today announced a partnership with Ubeya, a Workforce Management Platform specializing in shift-based placements, improving engagement, and increasing worker retention. With the launch of the Independent Driver Network and the partnership with Ubeya, Bringg will now provide retailers and logistics companies with access to an additional workforce for increased delivery capacity, enabled by partners including Workwhile, Point Pickup, Tonquin and Para.

Many of the systems in place that support rapid or flexible delivery capabilities are lagging, and among the most prominent pitfalls...

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Jun 26 9:23 AM, Urner Barry


 

Vertical Cold Storage Closes MWCold Acquisition

Vertical Cold Storage, a developer and operator of temperature-controlled distribution centers sponsored by real estate investment firm Platform Ventures, finalized the purchase of MWCold, operator of two strategically located temperature-controlled warehouse facilities in central Indiana. Terms of the deal were not disclosed.

“We are excited to welcome the MWCold team to Vertical Cold and provide them with the opportunity to continue to grow personally and professionally as we serve our customers by embracing the unique complexities of the temperature-controlled supply chain. We are a team of cold storage veterans focused on...

 

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Jun 21 11:23 AM, Urner Barry


United Natural Foods Announces Regional Restructuring

United Natural Foods, Inc. today announced actions it is taking to enhance profitability, speed decision-making and reduce administrative layers, primarily by consolidating from four operating regions to three. The three new regions will be called East, Central, and West. In total, the Company will eliminate approximately 150 roles as part of this announced restructuring effort, primarily in management or supervisory positions.

In March, UNFI named Erin Horvath as Chief Operating Officer and Louis Martin as President of Wholesale to better align leadership teams and resources to drive the Company’s customer-centric strategy and...

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Jun 14 8:46 AM, Urner Barry


Baldor Specialty Foods Announced Retirement of Longtime President

Baldor Specialty Foods, one of the Northeast and Mid-Atlantic’s largest food distributors, announced today the upcoming retirement of Michael Muzyk, longtime President of the company and an icon in the food distribution industry. Muzyk’s retirement will commence at the end of 2023.

After a remarkable career spanning almost 30 years, Muzyk has been looking forward to enjoying more downtime with family and friends in retirement. Because of his dedication to the company, however, he didn’t want to leave until he felt Baldor was well-positioned for the...

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Jun 14 7:59 AM, Urner Barry


Walmart to Invest $257 Million in Beef-Packing Plant in Kansas

Walmart said on Tuesday it would invest $257 million to open a beef-packing plant in Olathe, Kansas in 2025, which would create more than 600 jobs.

The facility will package and distribute cuts of the higher grade Angus beef from Sustainable Beef LLC. Walmart had acquired a minority stake in the ranch-based beef processing plant last year, which is expected to be functional in late-2024.

The company's investment plans come at a time when...

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Jun 14 7:55 AM, Urner Barry







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