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Del Monte Foods, Inc. Publishes 2021 Sustainability Report

Del Monte Foods, Inc. today published its fiscal year 2021 Sustainability Report, highlighting progress toward its sustainability goals and reaffirming the company's mission to nourish families with earth's goodness to create a healthier tomorrow where nutritious foods are more accessible to all.

"At Del Monte, we're growers of good. This past fiscal year, we extended this ethos not only to growing what's good, but also to taking care of what's good: our team members, our growers, our customers and our communities," said Greg Longstreet, President and CEO of Del Monte Foods...

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Oct 5 7:59 AM, General News



US Foods Fall Scoop Designed to Help Operators Appeal to Gen Z and Millennial Diners

US Foods Holding Corp. announced the launch of Fall Scoop, the company’s 10th annual edition of Scoop. Themed, “Next-Gen Ideas for Next-Gen Diners,” Fall Scoop features 23 products that cater to the next generation of diners, Gen Z and Millennials. More than half of the nation’s total population are now members of the millennial generation or younger, making them the largest age group of diners who can drive important revenue opportunities for operators. This generation of diners is different than their predecessors – they want familiar menu items with a twist, sustainable and meatless items, and social media-worthy presentations. Fall Scoop products deliver on these demands to entice, attract, and delight this younger generation of dining enthusiasts and help operators “Make It.”

“We’re bringing fresh ideas to our operators that provide the labor savings and versatility they need today with the innovation they’ll need moving forward as they cater to the next generation of diners,” said Stacey Kinkaid, vice president, product development and innovation, US Foods. “To support our Fall Scoop theme...

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Sep 20 9:35 AM, General News


UNFI Names Steve Dietz as its New Chief Customer Officer

United Natural Foods, Inc. today announced the promotion of Steve Dietz to the newly created role of Chief Customer Officer (CCO) effective October 1, 2021. In this new role, Dietz will be responsible for overseeing UNFI’s sales efforts throughout the United States and Canada.

Dietz currently serves as UNFI’s President, Pacific Region, a position he’s held since 2018. As CCO, Dietz will support the region teams, driving business growth and helping ensure UNFI delivers on its long-term vision to transform the future of food. The sales regions include UNFI’s...

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Sep 14 9:01 AM, General News


Innovative Food Holdings Reports Financial Results for Second Quarter and First Half of 2021

Innovative Food Holdings, Inc. (“IVFH” or the “Company”), a leading direct-to-consumer e-commerce platform with complete multi-channel, specialty food and grocery capabilities for both consumers and professional chefs, today reported its financial results for the second quarter and first half of 2021.

“We are thrilled by the return to year-over-year growth within our specialty foodservice operations, which helped produce record second-quarter revenues and a 17% increase over the prior year period. Our foodservice business increased 148% despite continued uncertainty...

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Aug 25 8:24 AM, General News


Sysco Announces Changes to the Board of Directors

Sysco Corporation, the leading global foodservice distribution company, today announced that Nelson Peltz, chief executive officer and a founding partner, and Joshua D. Frank, partner and co-head of research, of Trian Fund Management, L.P. (“Trian”), have informed the Company that they are stepping down from the Board. Peltz and Frank indicated that the decision to step down was driven by their confidence in Sysco’s leadership, business transformation and continued operating momentum. Peltz and Frank have served on the Board since August 2015 and have made significant contributions to the Company’s business...

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Aug 23 10:02 AM, General News


UNFI and RangeMe Accelerate Growth Between Retailers and Suppliers

United Natural Foods, Inc., announced a new milestone expansion to its relationship with RangeMe, the leading online platform that streamlines new product discovery between over 200,000 suppliers and retailers. The evolved relationship between the companies, who have worked together for the past four years, enhances the ability for retailers and emerging suppliers to facilitate purchase orders directly on UNFI’s Easy Options platform through RangeMe.

Easy Options, which serves small-to-medium-sized businesses with flexible order sizes and no frequency requirements, provides RangeMe suppliers with an additional outlet to...

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Aug 23 8:32 AM, General News


Performance Food Group Company Reports Fourth-Quarter and Full-Year Fiscal 2021 Results

Performance Food Group Company announced its fourth-quarter and full-year fiscal 2021 business results.

“We made consistent progress in fiscal 2021 despite the difficult operating environment,” said George Holm, PFG’s Chairman, President & Chief Executive Officer. “In addition to the strong operating results to close out the fiscal year, we made significant headway integrating Reinhart and announced the intention to acquire Core-Mark, creating one of the largest food and convenience store delivery companies in the US.

“We are incredibly pleased with our fiscal fourth quarter results, particularly the momentum we achieved in our sales growth. The quarter saw record sales. Although the labor market remains challenging...

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Aug 19 10:04 AM, General News


Dining Services Welcomes Students Back to Campus 

As many college campuses look to reopen in full this fall for the first time since the pandemic began, Aramark joins in the celebration of our students’ resiliency. Upon campus return, students will find that campus dining has evolved over the past two years, offering healthier choices, continued commitment to sustainability, transparency in food sourcing, and an increased presence of local foods.

“The excitement of back-to-school is a little more intense this year,” said Jack Donovan, CEO and President of Aramark Higher Education. “Our goal is to exceed the expectations of our community by offering...

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Aug 19 8:28 AM, General News


Plant-based Foods Market to Hit $162 Billion in Next Decade, Projects Bloomberg Intelligence

The plant-based foods market could make up to 7.7% of the global protein market by 2030, with a value of over $162 billion, up from $29.4 billion in 2020, according to a new report by Bloomberg Intelligence (BI). The report Plant-Based Foods Poised for Explosive Growth identifies growth expectations for the plant-based foods market through 2030, as global animal and dairy protein demand is poised to reach $1.2 trillion by then.

According to the new report...

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Aug 17 8:28 AM, General News


Aramark Reports Third Quarter Earnings

Aramark reported third quarter fiscal 2021 results.

“Our third quarter performance continues to reflect Aramark's strong competitive position and flexible business model as we help clients reopen within various stages of recovery, while also driving growth initiatives that resulted in meaningful new business wins and high levels of client retention," said John Zillmer, Aramark's Chief Executive Officer. "I am extremely proud of our team's dedication to serving clients and focusing on our growth agenda.”

THIRD QUARTER RESULTS

Consolidated revenue was $3.0 billion in the quarter, an increase of 39% year-over-year, that reflected increased levels of business activity compared to the prior year and lapping the first full quarter of...

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Aug 11 8:29 AM, General News


Sysco Delivers Robust Fourth Quarter Results and Raises FY22 Guidance Driven by Accelerating Sales

Sysco Corporation announced financial results for its 14-week fourth fiscal quarter and its fiscal year ended July 3, 2021.

Key highlights for the fourth quarter of fiscal year 2021 included:

- Sales were stronger than expected;
- Share gains continue, driven by new customer wins;
- Sysco’s Recipe for Growth strategy advances;
- Inflation effectively managed;
- Cash flow stronger than expected, even with significant inventory investments;
- International operations show...

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Aug 10 9:17 AM, General News


US Foods Reports Second Quarter Fiscal 2021 Earnings

US Foods Holding Corp. announced results for the second quarter of fiscal 2021. In this press release, we refer to certain organic financial results. Organic financial results exclude contributions from Smart Foodservice through April 23, 2021. Smart Foodservice was acquired on April 24, 2020.

Second Quarter Fiscal 2021 Highlights

- Total case volume increased 53.5%; independent restaurant case volume increased 79.1%
- Total organic case volume increased 50.3%; organic independent restaurant case volume increased 74.4%
- Net sales increased 68.0% to $7.7 billion
- Gross profit increased 74.2% to...

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Aug 10 8:26 AM, General News


Sysco Partners with SAVRpak to Ensure Meals Stay Fresh and Crisp in Transit

Sysco Corporation announced an exclusive partnership that will deliver SAVRpak’s patented food preservation technology to independent and local chain restaurants nationwide. Through their agreement, Sysco will add SAVRpak “freshness packs” to its Cutting Edge Solutions platform, making this technology immediately available to order.

Developed by an aerospace engineer, SAVRpak is a frozen, peel-and-stick patch that removes moisture from the air of a food container, thereby keeping it away from the meal and...

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Jul 27 10:38 AM, General News


US Foods Announces New Chief Information and Digital Officer

US Foods Holding Corp. announced that John Tonnison will join the company as Executive Vice President, Chief Information and Digital Officer, effective July 12, 2021. Tonnison will oversee the company’s technology vision and strategy and all information technology functions, including digital, cyber security, applications and infrastructure. He will report to Chairman and Chief Executive Officer Pietro Satriano.

“JT joins the executive team with more than 30 years of extensive experience leveraging technology to foster innovation, improve operational efficiencies and deliver exceptional service to customers,” said Pietro Satriano, Chairman and Chief Executive Officer of US Foods. “He will be instrumental in driving...

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Jul 8 8:24 AM, General News


US Foods Solves Operators’ Steak Challenges with Tender by Design Process

US Foods Holding Corp. announced the national launch of Tender by Design™, a revolutionary process by which frozen beef can now be just as high quality and tender as fresh. The proprietary Tender by Design™ process gives operators access to high-quality steaks year-round at a competitive price and allows for easier inventory and portion control to respond to the ebb and flow of restaurant traffic. Tender by Design™ is being introduced under the company’s well-known Stock Yards® brand. The launch includes 6-, 8- and 10-ounce half-faced center cut choice top sirloin steaks and an 8-ounce baseball cut choice top sirloin steak.

“Unpredictability is a major challenge in the beef industry, and this is especially true in today’s market. Variance in the quality of beef driven by the time of year and pricing fluctuations hurt the bottom line and create unwanted pressures as operators aim to deliver consistent, high-quality steak offerings that attract...

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Jun 28 10:03 AM, General News


US Foods Summer Scoop Lineup Takes Aim at Restaurant Labor Shortage

US Foods Holding Corp. announced the launch of Summer Scoop™. Themed “Dining Out Is In Again,” Summer Scoop features 18 on-trend, versatile, profit-driving products designed to reduce back-of-house preparation and skilled-labor demands. With 62% of operators saying they are concerned about finding skilled workers during the pandemic, restaurant operators struggle to balance the resurgence of on-site diners and existing take-out and delivery operations ramped up during the pandemic. Summer Scoop helps address these challenges with innovative products that can drive higher profits and help operators save approximately 85-95% in back-of-house preparation time compared to making from scratch, helpful for restaurants operating with fewer and less experienced kitchen staff.

“Through each phase of the pandemic, our commitment to helping our restaurant operators ‘Make It’ with product innovation and expert resources has remained our number one priority,” said Stacey Kinkaid, vice president of product development and innovation for US Foods. “As restaurants quickly move closer to...

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Jun 15 8:25 AM, General News


Plant-Based Protein Shipments to U.S. Restaurants and Foodservice Outlets Grew by 60% in April

As pandemic-related restaurant restrictions lift across the U.S., chefs and foodservice operators are refreshing their menu offerings and recipes. Plant-based proteins are one of the food categories they’re using to help update, reports The NPD Group. Shipments of plant-based proteins from foodservice distributors to commercial restaurants increased by +60% in April 2021 compared to the same month a year ago, when the category realized declines because of pandemic restrictions.

Shipments are up +16% compared to April 2019, according to NPD’s SupplyTrack®, which tracks every product shipped from leading distributors to more than...

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Jun 11 8:23 AM, General News


United Natural Foods Reports Third Quarter Fiscal 2021 Results

United Natural Foods reported financial results for the third quarter of fiscal 2021 (13 weeks) ended May 1, 2021.

Third Quarter Fiscal 2021 Highlights (comparisons to third quarter fiscal 2020)

  • Net sales of $6.62 billion, a decrease of 5.9% (+6.7% on a two-year stack basis)
  • Net income of $49 million, a decrease of approximately $40 million
  • Adjusted EBITDA of $179 million, a decrease of...
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Jun 10 8:31 AM, General News


SpartanNash Announces First Quarter Fiscal 2021 Financial Results

SpartanNash Company reported financial results for its 16-week first quarter ended April 24, 2021.

First Quarter Fiscal 2021 Highlights

  • Net sales of $2.66 billion, declined 7.0% from the prior year quarter net sales of $2.86 billion, due to the prior year’s increased consumer demand related to the COVID-19 pandemic.
  • Retail comparable store sales declined 7.0% for the quarter. Comparable store sales increased by 9.3% on a two-year basis, representing a continuation of the trend experienced through...
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Jun 4 8:27 AM, General News


Sysco Announces Agreement to Acquire Greco and Sons

Sysco Corporation announced it has entered into an agreement to acquire Greco and Sons, a leading independent Italian specialty distributor in the United States from Arbor Investments and the Greco family. Greco and Sons operates 10 distribution centers servicing 22 geographies nationwide, with approximately $800 million in annual revenue.

Founded in 1990, Greco and Sons imports and distributes a full line of premium quality food and non-food products as well as manufactures value-added specialty meat products. Upon completion of the transaction, Greco and Sons will operate as a standalone division within Sysco, similar to...

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May 24 8:21 AM, General News


Performance Food Group Company to Acquire Core-Mark

Performance Food Group and Core-Mark Holding announced that they have entered into a definitive agreement pursuant to which PFG will acquire Core-Mark in a stock and cash transaction.

Under the terms of the transaction, which has been unanimously approved by the Board of Directors of each company, Core-Mark shareholders will receive $23.875 per share in cash and 0.44 PFG shares for each Core-Mark share. The transaction values Core-Mark at approximately $2.5 billion, including...

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May 19 8:26 AM, General News


Sysco Offers Two New Foodie Solutions Toolkits as Summer Approaches

Sysco Corporation, a leading global foodservice distribution company, announced that it has launched two new online toolkits to its Foodie Solutions platform. The Labor & Hiring and Summer Solutions Toolkits are the latest in a series of carefully curated tools to help foodservice operators succeed while generating additional revenue and meeting consumer expectations.

Labor & Hiring Toolkit – As restaurants reopen amidst a tight labor market, the Labor & Hiring toolkit provides a comprehensive resource for hiring, training and retaining restaurant employees, including tips such as taking action on employee feedback and offering incentives to improve retention. This comprehensive toolkit also features...

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May 17 8:26 AM, General News


US Foods Reports First Quarter Fiscal 2021 Earnings 

US Foods Holding Corp., one of the largest foodservice distributors in the United States, announced results for the first quarter of fiscal 2021. In this press release, the company refers to certain organic financial results. Organic financial results exclude contributions from Smart Foodservice, which was acquired on April 24, 2020.

First Quarter Fiscal 2021 Highlights

  • Total case volume decreased 0.9%; independent restaurant case volume increased 8.1%
  • Total organic case volume decreased 6.4%; organic independent restaurant case volume increased 0.2%
  • Net sales decreased 0.7% to...
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May 10 8:42 AM, General News


Butterfly Acquires a Majority Stake in Leading Premium Egg Company Pete and Gerry’s Organics

Butterfly, a Los Angeles-based private equity firm specializing in the food sector, announced that it has acquired a majority stake in Pete and Gerry’s Organics, LLC, the nation’s leading producer of organic, free-range and pasture-raised eggs under the Pete and Gerry’s Organic®, Nellie’s Free Range® and Consider Pastures™ brands. Terms of the transaction were not disclosed.

Pete and Gerry’s is Butterfly’s latest investment within its “seed to fork” approach to investing in food across agriculture, aquaculture, food and beverage products, food distribution and foodservice. Pete and Gerry’s CEO, Jesse Laflamme, will retain an ownership position and continue to help...

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May 6 8:27 AM, General News


Performance Food Group Company Reports Third-Quarter and First-Nine Months Fiscal 2021 Results

Performance Food Group Company announced its third-quarter and first-nine months fiscal 2021 business results.

“Our Company’s strong momentum and recovery has continued into calendar 2021,” said George Holm, PFG’s Chairman, President & Chief Executive Officer, “and I am extremely pleased with the progress we have made as many markets reopen for business. As we expected, the pace of rebuilding our workforce accelerated to support sales trend improvement. We believe that these expenses put us in a solid position to maintain our top-line performance through the rest of fiscal 2021 and into fiscal 2022. Despite a strong January and February in the year ago period...

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May 6 8:26 AM, General News


Maple Leaf Foods Reports First Quarter 2021 Financial Results

Maple Leaf Foods reported its financial results for the first quarter ended March 31, 2021.

"Maple Leaf remains committed to delivering shared value, and to building an enduring company, with a vision to be the most sustainable protein company on earth," said Michael H. McCain, President and CEO. "We continue to deliver on our commitments. As we cross the one-year mark of the COVID-19 pandemic, I continue to be inspired by our dedicated front-line team members who come into work each day to produce the food we all need to stay healthy. Our number one priority is to keep our people healthy during this global crisis, and beyond. At the same time, we are delivering on our financial commitments, including both significant revenue growth and margin expansion in...

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May 5 9:46 AM, General News


Sysco Reports Third Quarter Fiscal 2021 Results

Sysco Corporation announced financial results for its 13-week third fiscal quarter ended March 27, 2021.

  • Sales trends improving as markets reopen; Q3 decreased 13.7% versus FY20 and decreased 19.3% versus FY19; April increased 102.1% versus 2020 and decreased 8.8% versus 2019;
  • We are now serving more independent customers compared to pre-COVID;
  • Gross profit decreased 17.2% to $2.1 billion; industry-leading gross margin decreased...
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May 4 9:43 AM, General News


Ron Phillips Joins Sysco as Executive Vice President, Chief Human Resources Officer

Sysco Corporation announced that Ron Phillips will join the company as executive vice president and chief human resources officer, effective May 3, 2021.

“I am very pleased to welcome Ron to Sysco. He is a proven HR executive with more than 25 years of experience and a track record of leading high-performing teams and consistently delivering results and transformative change through people-first strategies,” said Kevin Hourican, Sysco’s president and chief executive officer. “His demonstrated expertise across a broad range of strategic functions, including people strategy development, diversity and...

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May 3 8:21 AM, General News


Aramark to Acquire Next Level Hospitality

Aramark announced that it has signed an agreement to acquire Next Level Hospitality, a premier provider of culinary and environmental services in the senior living sector, specializing in skilled nursing and rehabilitation facilities. 

Founded in 2017, Next Level serves hundreds of locations in the U.S., primarily in the East Coast, Midwest and Texas. The acquisition enables Aramark to partner with a business that is committed to creating exceptional experiences for its clients with the ability to leverage a scalable operating model.

“Next Level has built an impressive, fast-growing business that provides high quality services, led by a strong management team with a proven track record of execution,” stated Aramark’s CEO, John Zillmer. “This complementary acquisition extends...

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Apr 30 8:26 AM, General News


Incogmeato Introduces Plant-Based Chik'n Tenders

Incogmeato™ by MorningStar Farms®, a leader in plant-based poultry, knows America loves chicken tenders and now they're unveiling new plant-based Chik'n Tenders. Hitting shelves this month in Original and Sweet BBQ flavors, the new Incogmeato Chik'n Tenders are indistinguishable from its animal protein counterpart – with a signature "just-like-meat" tear.

"Our new Incogmeato Chik'n Tenders are a game changing experience for the flexitarian chicken-loving consumer who wants to try plant-based but isn't finding an option that stacks up to...

 

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Apr 21 8:34 AM, General News


SpartanNash Announces Chief Strategy Officer

SpartanNash announced that Masiar Tayebi will join the company as Executive Vice President and Chief Strategy Officer, effective April 19, 2021. Mr. Tayebi has more than 20 years of experience connecting strategy, technology and innovation to drive growth and transformational change. Prior to joining SpartanNash, Mr. Tayebi was Global Head of Corporate Strategy and Business Development at Whirlpool Corporation, as well as Chief Operating Officer of its most recent acquisition, Yummly, a leading digital food platform offering online grocery delivery to millions of users. Before joining Whirlpool Corporation, Mr. Tayebi spent 15 years in financial services and management consulting.

As EVP and Chief Strategy Officer, Mr. Tayebi will be responsible for the development and execution of corporate strategy initiatives to drive growth and improve business performance. He will work closely with senior leaders to identify, analyze and resolve...

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Apr 21 8:34 AM, General News


Church's Chicken Names Performance Food Group as Exclusive Distributor

In a move to further streamline operations and provide consistently high quality distribution services across its domestic system of restaurants, Church's Chicken® has selected Performance Food Group Company (PFG) as its exclusive distributor in the United States. The decision was made after an exhaustive review of potential candidates by Church's leadership and quality assurance teams, with the stated goal of unifying nationwide operations under a single provider. PFG is scheduled to begin taking over distribution for regions still serviced by other providers beginning in June, and will continue to be the provider going forward through the rest of 2021 through 2026.

"Quality and a reliable supply chain are vital to our business at Church's," said Randy Lawrence, Senior Vice President of Global Supply Chain and Quality Assurance for the brand. "In working with various divisions of PFG in different locations across the country, we knew...

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Apr 20 8:30 AM, General News


Canada: PepsiCo Foods and Maple Leaf Foods Sign Distribution Agreement for Schneiders Meat Snacks

PepsiCo Foods Canada and Maple Leaf Foods announced that the companies have entered into an exclusive alliance for PepsiCo Foods Canada to distribute Schneiders® Pepperettes® snack size premium meat sticks in Canada. As of October 3, 2021, PepsiCo Foods Canada will sell, distribute and merchandise Schneiders® Pepperettes® snack size premium meat sticks in grocery, convenience and gas, and foodservice outlets across Canada. This will broaden the distribution of Schneiders® Pepperettes® premium meat snacks and accelerate the brand's growth.

"We are thrilled about this new partnership with PepsiCo Foods Canada", said Curtis Frank, President and COO, Maple Leaf Foods. "Their extensive Canadian direct-to-store delivery system, strong selling capabilities and...

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Apr 19 8:31 AM, General News


US Foods Releases 2020 Corporate Social Responsibility Report

US Foods Holding Corp. announced the launch of the company’s 2020 Corporate Social Responsibility (CSR) Report. The report highlights progress against the company’s ongoing commitment to caring for people, protecting the environment, and providing responsibly sourced and sustainable products.

“I am proud of how our associates worked together to serve customers, communities and each other during the many challenges of 2020,” said Chairman and CEO Pietro Satriano. “Despite the unprecedented year, we were able to make meaningful progress against...

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Apr 14 8:22 AM, General News


UNFI Launches Innovative E-commerce Solution to Expand Distribution Options for Emerging Suppliers

United Natural Foods announced the launch of Community Marketplace by UNFI, a business-to-business digital e-commerce solution for emerging brands looking to expand distribution with UNFI customers. Community Marketplace modernizes the way brands interact with grocery wholesalers by allowing thousands of emerging products not currently available at UNFI distribution centers to be ordered on UNFI’s Easy Options website and shipped directly to retail customers across the United States.

Through this virtual marketplace, suppliers gain immediate access to UNFI’s digital infrastructure to promote and sell their products to UNFI’s broad customer base. Approved suppliers keep complete control of their inventory, order management, pricing, and shipping charges while attaining trial for...

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Apr 8 8:20 AM, General News


Aramark Welcomes Fans Back to Sporting Events

As pro sports teams begin to welcome fans back, having fans in the stands for this season’s MLB Opening Day will take on added meaning for America’s Pastime. Whether it’s a ballpark, stadium or arena, Aramark, the leading food and beverage partner of major league sports teams, is meeting and exceeding the safety and hygiene standards required in today’s environment, while also improving the overall gameday dining experience, with new and proven solutions.

Innovative Solutions for Frictionless & Contactless Service

To create a safe, efficient and frictionless service experience for fans, Aramark’s continuous pipeline of testing and development of fan-friendly technology and innovative self-service concepts is proving to be a benefit for operating in today’s world and has paved the way for...

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Mar 26 8:36 AM, General News


Aramark Launches Process to Refinance 2024 Debt Maturity

Aramark, a global leader in food, facilities management and uniforms, announced the launch of a process to refinance the Company’s 2024 Term Loan B credit facility of $833 million that would proactively extend the maturity to 2028. The transaction is intended to be net leverage neutral, while maintaining comparable fixed-to-floating debt levels.

Concurrently, Aramark initiated a process for a 3-year extension of both its Revolving Credit Facility and Term Loan A to 2026, further strengthening the Company’s financial flexibility. These transactions are anticipated to be...

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Mar 23 10:18 AM, General News


Three New Sysco Foodie Solutions Toolkits Available for Restaurateurs

Sysco Corporation announced the addition of three new toolkits to its Foodie Solutions platform: Brunch, Protecting Your Business and Turning Your Tables. As more restaurants reopen their dining rooms, these are the latest in a series of carefully curated tools to help customers respond quickly to shifting business requirements and trends resulting from the COVID-19 pandemic.

The Brunch toolkit offers innovative ideas and recipes to help make Easter and Mother’s Day a success, including popular brunch and take-out concepts, such as Bloody Mary cocktail kits and a Mother’s Day “Berry Me in Chocolate” strawberry kit. In addition, “Sea-cuterie boards” are a unique play on the...

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Mar 19 8:31 AM, General News


Sysco Announces $1.1 Billion Debt Reduction in Anticipation of Impending Market Recovery

Sysco Corporation, the leading global foodservice distribution company, announced it had reduced its outstanding debt by a total of $1.1 billion.

On March 9, the company repaid the remaining $700 million in outstanding borrowings under its long-term revolving credit facility that expires on June 28, 2024. In addition, on March 10, Sysco’s United Kingdom-based subsidiary, Brake Bros Limited, repaid £300 million of its £600 million in aggregate principal amount of notes outstanding under its commercial paper program, equating to approximately...

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Mar 10 10:09 AM, General News


Beyond Meat Expands Product Distribution 

Beyond Meat announced its latest expansion of product offerings at Walmart. Starting this week, within the approximately 2,400 Walmart locations nationwide in which Beyond Meat products are currently sold, Walmart will be adding Beyond Sausage Hot Italian® to the fresh meat aisle at more than 400 stores as well as expanding the frozen Cookout Classic value-pack to approximately 500 stores.

This increased distribution at Walmart is Beyond Meat’s second in the past year and is part of Beyond Meat’s effort to increase worldwide accessibility to simple, plant-based meat products made without GMOs or bioengineered ingredients. As demand for plant-based meat continues to rise, this increased distribution complements the company’s expansive retail presence at approximately...

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Mar 10 8:24 AM, General News


US Foods Spring Scoop Caters to Consumers’ Growing Interest in Well-Being, Sustainability

US Foods Holding Corp. announced the launch of Spring 2021 Scoop™, “Hungry for Better,” which features products that cater to consumers’ growing interest in dining options that support their planet, their communities and themselves. Today’s consumers are more deliberate and conscientious about their dining choices and are seeking products with simple and authentic ingredients that can also satisfy specific dietary needs. At the same time, they are also demanding products with sustainable attributes, and research shows that these consumer behaviors have only intensified since the start of the pandemic. To meet this growing need, US Foods Spring Scoop highlights 21 products that offer a well-being and/or sustainable attribute and are part of the company’s growing portfolio of products under the Hungry for Better initiative.

“With Spring Scoop, we are focusing on products that support our Hungry for Better initiative,” said Stacey Kinkaid, vice president, product development and...

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Mar 2 10:14 AM, General News


US Foods Reports Fourth Quarter and Fiscal Year 2020 Earnings

US Foods Holding Corp., one of the largest foodservice distributors in the United States, announced results for the fourth quarter and full fiscal year 2020. The fourth quarter of fiscal year 2020 included 14 weeks compared to 13 weeks for the fourth quarter of fiscal year 2019, and the full fiscal year 2020 included 53 weeks compared to 52 weeks in the full fiscal year 2019. Certain financial results in this press release have been presented excluding the "extra week" in the fourth quarter and fiscal year 2020 in an effort to provide comparable results on a year-over-year basis. Organic financial results exclude contributions from Smart Foodservice, which was...

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Feb 16 9:55 AM, General News


Smart Foodservice Warehouse Stores to Become US Foods CHEF’STORE

US Foods Holding Corp. announced that effective March 1, Smart Foodservice Warehouse Stores will be rebranded as US Foods CHEF’STORE. US Foods acquired Smart Foodservice Warehouse Stores in April 2020 to accelerate growth in the cash and carry market. This change will combine the power of the US Foods brand with the assortment, pricing and customer service of Smart Foodservice Warehouse Stores and pave the way for an enhanced customer experience.

“Our new CHEF’STORE branding represents the next step in our continued partnership with US Foods,” said Derek Jones, president, US Foods CHEF’STORE. “Smart Foodservice Warehouse Stores and US Foods share a commitment to...

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Feb 16 8:25 AM, General News


Sysco Launches New and Exclusive, Chef-Tested Menu Concepts Through Cutting Edge Solutions Platform

Sysco Corporation, the leading global foodservice distribution company, introduced nine innovative concepts through its Cutting Edge Solutions platform. These new and differentiated products are available exclusively from Sysco and provide foodservice operators with unique menu offerings, innovative meal solutions and environmentally friendly cleaning and beverage products.

“Now more than ever, foodservice operators must provide differentiated offerings to succeed in this challenging operating environment. Sysco’s Cutting Edge Solutions platform offers...

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Feb 16 8:22 AM, General News


Tyson Foods and Malayan Flour Mills Berhad Announce Partnership

Tyson Foods and Malayan Flour Mills Berhad announced a partnership in which Tyson Foods will invest in the Malaysia-based company’s vertically integrated poultry business, which will add more supply flexibility for both companies. The transaction is subject to approval by the shareholders of Malayan Flour Mills Berhad (MFM), amongst others.

“Once completed, the poultry deal will optimize our existing Malaysia business and expand MFM’s poultry business,” said Chris Langholz, International President of Tyson Foods. “This partnership will add...

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Feb 10 10:53 AM, General News


Aramark Reports First Quarter Earnings

Aramark reported first quarter fiscal 2021 results.

"The resilience of our business through this dynamic period is rooted in the exceptional performance of our people on the front-lines, serving clients—many of which are essential businesses—across the globe," said John Zillmer, Aramark's Chief Executive Officer. "It has been remarkable to watch our team pull together in the face of such adversity, and I am proud of what we have been able to achieve as a result. Our ability to...

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Feb 9 10:19 AM, General News


Performance Food Group Reports Second Quarter and First Half Fiscal 2021 Results

Performance Food Group Company announced its second quarter and first half fiscal 2021 business results.

“I am proud of how our Company has continued to navigate through the current market conditions and distinguish ourselves as leaders in the food distribution industry,” said George Holm, PFG’s Chairman, President & Chief Executive Officer. “Despite the new challenges the holiday season brought for our business, our Foodservice segment still delivered a solid quarter while continuing the smooth integration of Reinhart. Looking ahead, I believe PFG is well-positioned to...

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Feb 4 7:26 AM, General News


Sysco Reports Second Quarter Fiscal 2021 Results

Sysco Corporation announced financial results for its 13-week second fiscal quarter ended December 26, 2020.

Second Quarter Fiscal 2021 Highlights

  • Sales decreased 23.1% to $11.6 billion
  • Gross profit decreased 25.8% to $2.1 billion; gross margin decreased 67 basis points
  • Operating income decreased 61.6% to $212.1 million; adjusted operating...
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Feb 2 9:42 AM, General News


UNFI Names Dorn Wenninger Senior Vice President of Produce

United Natural Foods, Inc. announced that Dorn Wenninger has been named its Senior Vice President of Produce effective today. In this role, Wenninger will oversee the growth as well as enhance and execute the strategy and expansion of UNFI’s capabilities in produce. Wenninger will report to Paul Green, UNFI's President of Fresh.

"For UNFI and our retail customers, the produce department represents one of the most significant growth opportunity areas in the store,” said Green. “Dorn is an experienced, highly respected, and well-connected leader who will not only...

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Feb 2 8:27 AM, General News


Get to Know Players in the Plant Protein Market: Roquette 

In 1933, brothers Germain and Dominique Roquette, identified an industrial need for potato starch in French textile markets. Both grain brokers, the brothers decided to establish a potato starch production plant in Lestrem, France, named Roquette. Little did they know their investment would grow to be a leading global provider of high-quality ingredient solutions spanning the food, nutrition, health, textile, and pharmaceutical markets sourced from across North America, Europe, and Asia.

Approaching a century of longevity, Roquette leads the marketplace with over forty years crafting and nurturing its expertise in providing plant protein solutions in the global food industry. To date, Roquette offers plant proteins sourced from wheat, fava beans, and...

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Jan 28 8:23 AM, Urner Barry


Cargill Expands Value-Added Protein Footprint Through Acquisition of ProPortion Foods

Cargill, the global food, agricultural, financial and industrial products company, announced the expansion of its value-added protein footprint through the acquisition of ProPortion Foods, a food manufacturer that supplies a variety of innovative fully cooked products, portion control steaks and marinated ready-to-grill meats.

Through the purchase, which closed in December 2020, Cargill gains two further-processed protein plants in Round Rock, Texas and Vernon, California. The Round Rock and Vernon facilities will deliver a variety of quality, fully cooked protein products for Cargill’s...

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Jan 27 8:23 AM, General News


Post Holdings Announces Partnership with Hungry Planet 

Post Holdings, Inc., a consumer packaged goods holding company, announced a partnership with Hungry Planet Inc., a plant-based meat company. In this new partnership, Post’s Foodservice and Refrigerated Retail units will work closely with Hungry Planet to expand the distribution of Hungry Planet’s industry-leading range of plant-based meats to address the rapidly growing demand for alternative protein solutions across all meal occasions.

Hungry Planet produces a full range of chef-crafted plant-based meats that match the taste and texture of conventional meat. Based in St. Louis, Hungry Planet meats are distributed throughout the United States via...

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Jan 27 8:21 AM, General News


Sysco Releases New Foodie Solutions Toolkits

Sysco Corporation announced the addition of four new toolkits to its Foodie Solutions platform. The Valentine’s Day, Wholesome Dining, Seafood and Greatest Game toolkits are the latest in a series of carefully curated resources that reflect the best ideas from across the foodservice industry for generating additional revenue and meeting consumer expectations for a safe and memorable dining, takeout or delivery experience.

Valentine’s Day is historically one of the most popular holidays to dine out, second only to Mother’s Day. Despite the pandemic, Sysco expects it will remain...

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Jan 18 8:27 AM, General News


PODCAST: Succeeding in Foodservice Through COVID-19

This week on Market Digest Laura is joined by Scott Tenner, Center of the Plate Protein Specialist, of Jacmar Foodservice. Scott discusses the importance of delivering quality ingredients to consumers, navigating...

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Jan 6 9:26 AM, Urner Barry


Get to Know Players in the Plant Protein Market: Planterra Foods

One of the fasted growing plant protein brands in the industry has achieved a remarkable 6% market share in a brisk 13-week period. Colorado based Planterra Foods, a subsidiary of Brazilian food giant JBS, has taken the plant-based market by storm with its OZO brand product line of burgers, ground, sausages, and meatballs.

Prior to its debut, OZO had an interesting start as a whiteboard drawing during a design brainstorming session. During the session, a team member at Planterra Foods first drew a globe representing the earth. Another team member added a second circle representative of...

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Dec 23 8:39 AM, Urner Barry


PODCAST: Lifting Others as We Grow - Mark Winkler, US Foods

This week Mark Winkler of US Foods discusses their innovations and initiatives through the COVID-19 pandemic. Between setting up ghost kitchens, helping small businesses adapt to a lack of indoor dining, and...

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Dec 22 10:42 AM, Urner Barry


Tom Peck Joins Sysco as Chief Information and Digital Officer

Sysco Corporation announced that Tom Peck will join the company as executive vice president and chief information and digital officer, effective Jan. 4, 2021. In this role, Peck will lead Sysco’s strategic efforts to accelerate its business transformation through customer-facing technology solutions and will lead the company efforts to modernize its technology infrastructure.

Peck has over 20 years of experience leading enterprise information technology strategy, services, operations, risk and cybersecurity for large global enterprises. He most recently served as...

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Dec 3 10:20 AM, General News


Performance Food Group Appoints Warren Thompson to Board of Directors

Performance Food Group Company announced that it has appointed Warren M. Thompson to serve as an independent director on its Board of Directors, effective today. This appointment expands PFG’s Board to 11 directors. The Board appointed Mr. Thompson to serve as a member of the Company’s Audit Committee and as a member of the Technology Committee, also effective immediately.

Mr. Thompson, 61, currently serves as President and Chairman of Thompson Hospitality Corporation, the largest minority-owned foodservice and facilities management company in the U.S. The company was founded in...

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Dec 3 8:18 AM, General News


Sysco Names Aaron E. Alt Chief Financial Officer

Sysco Corporation named Aaron E. Alt executive vice president and chief financial officer, effective Dec. 7, 2020. Joel Grade, currently executive vice president and chief financial officer, will assume a newly created role of executive vice president, business development. In this capacity, Joel will be responsible for accelerating both organic and inorganic sales growth through new business development, including strengthening future M&A capabilities. Joel’s extensive experience in operations and finance make him uniquely qualified for this role as Sysco looks to accelerate its business transformation.

Alt most recently served as chief financial officer and senior vice president of Sally Beauty Holdings, an international specialty retailer and wholesale distributor of professional beauty supplies, and...

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Nov 18 8:34 AM, General News


Performance Foodservice Launches Proprietary Line of Plant-based Protein Products

Performance Foodservice, a division of Performance Food Group Company, announced the launch of its Green Origin brand, a proprietary line of plant-based protein products. Made from simple ingredients, the Green Origin portfolio includes plant-based burgers, grinds, breakfast sausages, and nuggets. Green Origin products are made exclusively by Greenleaf Foods, SPC, owner of leading plant-based brands Lightlife and Field Roast. With this launch, Performance Foodservice will have one of the largest plant-based Exclusive Brand portfolios in the industry.

“We’re well past the point of plant-based eating as a niche trend,” said Fred Sanelli, senior vice president of marketing and sales at Performance Foodservice. “It has become a significant and growing segment in...

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Nov 17 8:28 AM, General News


Sysco Eliminates Minimum Delivery Requirements and Offers Services to Support Restaurant Industry

Sysco Corporation announced it will eliminate minimum delivery size requirements for customers’ regularly scheduled delivery days as part of the company’s Restaurants Rising campaign. This change is effective on Nov. 16 for all U.S. Broadline, FreshPoint, Buckhead Meat and Newport Meat customers.

Removing minimum delivery requirements is yet another way Sysco is leading the industry in supporting the success of restaurants, providing operators significant added flexibility in managing their business and making it easier to...

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Nov 16 8:20 AM, General News


Sweet Earth Foods Partners with U.S. Colleges and Universities to Expand Plant-Based Dining Options

Sweet Earth Foods, a Nestlé Professional brand and award-winning plant-based food innovator, announced their expansion of the PB Triple Play – the first 100% plant-based Bac'n Cheezeburger – and other new plant-based options for students at five premier universities across the U.S., including University of Massachusetts, Notre Dame and Yale. These limited-time offerings will be available on college campuses in November and offered as more permanent menu items in 2021.

Sixty-five percent of Gen Z wants a more "plant-forward" diet, while 79% would eat meatless meals once or twice a week. Now, as more Gen Z students demand plant-based options, colleges search for vegan options that are both plant-powered and flavorful. The PB Triple Play and other...

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Nov 11 8:14 AM, General News


Performance Food Group Reports First-Quarter Fiscal 2021 Results

Performance Food Group Company announced its first-quarter fiscal 2021 business results.

“I am very pleased with our first-quarter results as the organization continues to take market share and prove its resiliency,” said George Holm, PFG’s Chairman, President & Chief Executive Officer. “Our Foodservice segment once again outperformed the industry, particularly in the independent restaurant channel. The integration of Reinhart has progressed smoothly and Vistar, despite its exposure to some of the hardest hit channels, has remained profitable due to strength in the convenience store channel. Our associates are...

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Nov 5 8:35 AM, General News


Sysco Reports Sales Decline in First Quarter Fiscal 2021 Results

On Tuesday Sysco Corporation announced their financial results for its 13-week first fiscal quarter, which ended September 26, 2020. According to the company, sales decreased by 23% to $11.8 billion and gross profit decreased by 24.6% to $2.2 billion.

“Although our first quarter 2021 results continue to be impacted by the pandemic, we are pleased with our overall expense management and our ability to produce positive free cash flow and a profitable quarter despite a 23% reduction in sales,” said Sysco president and CEO Kevin Hourican...

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Nov 3 10:14 AM, SeafoodNews


US Foods Reports Third Quarter Fiscal 2020 Earnings

US Foods Holding Corp. announced results for the third quarter of fiscal 2020. In this press release we refer to certain organic financial results. Organic financial results exclude contributions during the respective period from Smart Stores Holding Corp. (“Smart Foodservice”), which was acquired on April 24, 2020. For the Food Group of Companies (the “Food Group”), which was acquired on Sept. 13, 2019, organic financial results include contributions for the Sept. 14, 2020, through Sept. 26, 2020, time period only.

Third Quarter Fiscal 2020 Highlights

  • Total case volume decreased 8.9%; total organic case volume decreased 22.2%
  • Net sales decreased 10.5% to $5.8 billion
  • Gross profit decreased 15.7% to $974 million
  • Net loss available to common shareholders was...
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Nov 3 8:24 AM, General News


Sysco Announces 2020 Corporate Social Responsibility Report

Sysco Corporation announced it has published its 2020 Corporate Social Responsibility (CSR) Report, documenting the company’s progress toward its 2025 CSR goals and demonstrating its “Leadership In Extraordinary Times.”

Sysco’s industry-leading CSR strategy sets a clear path for the future and demonstrates the company’s enduring commitment to caring for people, sourcing products responsibly and protecting the planet.

“I am so proud of how Sysco associates have supported our communities – and each other – while also making significant progress toward our CSR goals. They have risen to the challenges that the pandemic has presented and...

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Oct 29 8:22 AM, General News


US Foods Releases Holiday Scoop 2020 

US Foods Holding Corp. announced the launch of Holiday Scoop 2020, “Wow Your Diners On- and Off-Premise.” With this special edition of Scoop, operators can design family-style take-out meals to meet increased demand during the busy holiday season, and develop a new rotation of on-trend menu items to help fight menu fatigue whether diners are ordering to-go or dining in. Holiday Scoop features 14 items to help restaurant owners create standout menu items that not only meet diner demand but increase revenue opportunities this season.

“Dining trends have evolved rapidly since the pandemic hit, and this holiday season is certainly no exception,” said Stacey Kinkaid, vice president, product development and innovation, US Foods. “In fact, according to a recent US Foods survey, one in three consumers report that they plan to order more from restaurants for the upcoming holidays. Families are faced with...

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Oct 28 8:28 AM, General News







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