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Coronavirus Crisis From the Foodservice Operator Perspective 

According to a recent report by Datassential, fears of irreparable harm are building more significantly among restaurant operators, particularly those leading full-service locations. Not all on-site segments are carrying on seamlessly, as lodging has a huge vacancy problem and many college campuses are closed.

However, other operators have kept moving along, even if dine-in options can no longer be offered until further notice. All foodservice operators are focused on remaining open as much as possible and serve customers via the few options left. During this time, suppliers and manufacturers need to be flexible, as operators need to be...

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Apr 8 12:52 PM, Urner Barry



Performance Food Group Announces Partnerships and Corporate Actions

Performance Food Group Company announced several new partnerships and corporate actions to strengthen its business during the novel coronavirus pandemic.

“As we all adapt to the COVID-19 pandemic, our company is in a crucial position to keep our country’s food supply chain strong,” said George Holm, PFG Chairman, President & CEO. “We are proud of the tremendous effort and dedication shown by our talented associates who are working tirelessly to keep people fed during this time. In addition to working with our existing customers, we have formed several new partnerships, brought in new business and shared many of our associates with organizations that are experiencing labor shortages. PFG is also diligently assessing and managing how we spend our capital so that we are in the best financial position possible. With our new partnerships and...

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Apr 1 2:39 PM, General News


Protein Distributors Pivot to Direct to Consumer Model as Coronavirus Impacts Foodservice Sector

Outside of the box thinking from protein producers and distributors have led companies to pivot to a direct to consumer business model as the coronavirus halts the foodservice sector.

One company making headlines is Premier Meats. Located just outside of Los Angeles, California, Premier Meats has opened up its doors to the public for the first time. The company is selling its products which typically head to restaurants in the city, straight to local consumers.

Urner Barry market participants have reported following similar paths as Premier Meats to try and find a home for product. From providing pick up points at their facilities to offering...

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Mar 20 12:17 PM, Urner Barry


JUST Expands Partnerships Globally, Raises Capital & Adds Former Coca-Cola Executive

JUST announced a host of partnerships to manufacture and distribute its JUST Egg across North America, Latin America, Europe, and East Asia. This global infrastructure, which includes millions of additional points of potential distribution and access to production facilities on multiple continents, will provide the scale needed to meet the increasing worldwide demand for the product.

Included in this partnership announcement are South Korea’s food company, SPC Samlip; one of Southeast Asia’s largest food companies, Betagro Group; bakery company, Grupo Bimbo; one of Latin America’s largest edible oil and fat producers, Alianza Team; and local delivery platform, Delivery Hero. This infrastructure builds on a previously announced manufacturing and distribution partnership with...

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Mar 19 8:23 AM, General News


SpartanNash Promotes Thomas Swanson

SpartanNash announced the promotion of Thomas E. Swanson to Executive Vice President and General Manager, Corporate Retail.

Mr. Swanson was named Senior Vice President and General Manager, Corporate Retail in October 2018, responsible for leading the corporate retail business unit for all corporate retail banners and Quick Stop fuel and convenience centers. Mr. Swanson’s energy and passion for retail have been instrumental in SpartanNash’s success. His impact has resulted in positive retail comparable sales for the last two quarters. Mr. Swanson also has overseen the transition and integration of more than...

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Mar 11 10:26 AM, General News


US Foods to Acquire Smart Foodservice Warehouse Stores

US Foods announced that it has entered into a definitive agreement to acquire Smart Foodservice Warehouse Stores from funds managed by affiliates of Apollo Global Management for $970 million in cash.

Smart Foodservice operates 70 small-format cash and carry stores across California, Washington, Oregon, Idaho, Nevada, Utah and Montana that serve small and mid-sized restaurants and other food business customers with a broad assortment of products. Founded in 1955 and headquartered in the greater Portland, Oregon area, Smart Foodservice employs approximately 900 associates. Smart Foodservice had 2019 revenues of...

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Mar 6 9:45 AM, General News


Sysco Announces Leadership Promotions

Sysco Corporation announced two senior leadership promotions. Eve McFadden has been promoted to senior vice president of legal, general counsel and corporate secretary, after being promoted to vice president and general counsel in 2019. Since joining Sysco in 2008, Eve has provided effective leadership in the areas of employment law, antitrust compliance, and ethics and compliance. In addition, her skills in building strong partnerships within the business has contributed to the company’s success.

In her new role, Eve will continue to act as general counsel, adding responsibility for Sysco’s Enterprise Risk Management function, under which she recently established a new team focused on developing a global framework for Sysco’s environment, health and...

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Mar 6 8:23 AM, General News


Quirch Foods Opens New Distribution Center 

Quirch Foods, LLC opens its sixth distribution center in Greensboro North Carolina. The expansion is an essential component to the growth of the company which seeks to continue expanding and leveraging its distribution reach. Currently operating with 5 distribution centers located throughout the Southeast and the Caribbean, the sixth facility is set to begin operations in early March of 2020. The addition of this warehouse facility extends the company’s reach and ability to service independent and national supermarkets in and around the Carolinas and northward.

“We continue to look for opportunities to expand our reach and find strategic locations which will facilitate a...

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Mar 6 8:20 AM, General News


US Foods Announces Launch of Spring Scoop 

US Foods announced the launch of Spring Scoop, “Raising the Bar: The Classics – Celebrated and Elevated.” The 25th edition of Scoop features products designed to help bar-and-grill operators easily get creative and innovate with their menus, with elevated, upsell-worthy versions of their traditional bar-and-grill fare.

As modern diners seek bolder flavors, new menu experiences and flexible dietary substitutions, adding new items to the menu and elevating the classics with on-trend ingredients is critical to maintaining a competitive advantage. In fact, 54% of diners consider new menu items important to their decision when...

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Mar 2 10:03 AM, General News


SpartanNash Announces Fourth Quarter and Fiscal 2019 Financial Results

SpartanNash reported financial results for its 12-week fourth quarter and 52-week fiscal year ended December 28, 2019.

Fourth Quarter Fiscal 2019 Highlights

  • Net sales growth of 5.3%, to $2.00 billion from $1.90 billion in the prior year quarter, representing the fifteenth consecutive quarter of growth.
  • Retail comparable store sales of 0.5%, were positive for the second consecutive quarter.
  • EPS of $0.15 per share; Adjusted EPS of $0.23, including $0.11 in CEO transition and supplemental incentive program costs.
  • Significant working capital improvements over the prior year, including over...
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Feb 20 10:07 AM, General News


Sysco Announces Exclusive New Product Offerings from Cutting Edge Solutions

Sysco Corporation announced today the launch of eleven new and exciting menu concepts. These innovative products are available exclusively for Sysco customers nationwide through the company’s Cutting Edge Solutions platform.

Designed to help Sysco’s customers stay ahead of their competition, Cutting Edge Solutions products are sourced from best-in-class suppliers at the forefront of innovation. From better-for-you ingredients to labor-saving products, Cutting Edge Solutions products help operators easily update their menus and delight patrons with chef-tested, on-trend and innovative solutions. These versatile products also represent...

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Feb 20 8:38 AM, General News


Aramark Names Carl Mittleman Chief Operating Officer, International

Aramark has named Carl Mittleman Chief Operating Officer, International succeeding Brent Franks, who leaves Aramark after a successful 7-year tenure. Mittleman, who has been with the Company for 25 years, most recently served as President, Sports & Entertainment. Alison Birdwell, a sports and hospitality industry veteran, has been promoted to President, Sports & Entertainment.

Mittleman joined Aramark as a college intern and held positions of increased responsibility in sales and operations in Aramark Germany, Leisure and Sports & Entertainment. He moved through...

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Feb 14 10:27 AM, General News


US Foods Reports Fourth Quarter and Fiscal Year 2019 Earnings

US Foods Holding Corp. announced results for the fourth quarter and full fiscal year 2019. In this press release we refer to certain organic financial results. Organic financial results exclude contributions during the respective period from the Food Group of Companies (the "Food Group"), which was acquired on Sept. 13, 2019.

Fourth Quarter Fiscal 2019 Highlights

  • Total case volume increased 12.3%; independent restaurant case volume increased 11.9%
  • Total organic case volume increased 0.4%; independent restaurant organic case volume increased 2.9%
  • Net sales increased 14.8% to $6.9 billion; organic Net sales increased 3.0% to $6.2 billion
  • Gross profit increased 13.3% to $1.2 billion
  • Income from continuing operations before income taxes decreased $10 million to...
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Feb 11 10:03 AM, General News


Sysco Announces Sustainability Bond Framework to Advance 2025 Goals

Sysco Corporation announced today it has designed a Sustainability Bond Framework (the Framework) under which it may issue Green, Social and/or Sustainability Bonds to advance the company’s 2025 corporate social responsibility (CSR) goals.

Sysco’s CSR strategy focuses on three key areas: people, products and planet, setting a clear path for the future and demonstrating the company’s continued commitment to caring for people, sourcing products responsibly and protecting the planet. The company’s 2025 CSR goals, announced in 2018, include a comprehensive set of objectives, including...

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Feb 7 9:34 AM, General News


JUST and Sodexo Partner on Breakfast

JUST announced a partnership with Sodexo, a global food services and facilities management leader, to bring the award-winning, top-selling JUST Egg to Sodexo’s higher education, healthcare and corporate sites across the United States.

Crafted by a team of Michelin starred chefs, the plant-based JUST Egg’s key ingredient is protein from the mung bean, a dietary staple in Asia for thousands of years.

Through this partnership, JUST joins Sodexo’s commitment to sourcing responsibly, encouraging plant-based meals and reducing food waste as part of Sodexo’s Better Tomorrow 2025 strategy to...

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Feb 6 10:32 AM, General News


Performance Food Group Reports Second-Quarter and First-Half Fiscal 2020 Results

Performance Food Group Company today announced its second-quarter and first-half fiscal 2020 business results.

“After a strong start to the year, I am pleased that our business momentum continued into the second quarter. Our results were driven by solid top-line performance and strong EBITDA contribution from both the Vistar and Foodservice segments,” said George Holm, PFG’s Chairman, President & Chief Executive Officer. “We are pleased with the broad-based profit contribution across our operating segments and are excited to have closed the Reinhart acquisition as planned. The early integration of Reinhart is proceeding very well, and we remain on track for...

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Feb 5 11:39 AM, General News


Aramark Reports First Quarter Results

Aramark today reported first quarter fiscal 2020 results.

"Our financial performance in the quarter largely materialized as expected and reflects the early actions of our strategies to unlock the economic potential of the business," said John Zillmer, Aramark's Chief Executive Officer. "In just a few short months, we have mobilized strategic leadership changes and targeted investments, as well as realigned resources to more directly support our field organization and clients—all of which creates catalysts to drive future growth in the business."

First Quarter Results

Consolidated Revenue was $4.3 billion in the quarter, down 0.3% year-over-year, primarily due to approximately six weeks of...

 

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Feb 4 9:56 AM, General News


Sysco Reports Second Quarter Fiscal 2020 Results

Sysco Corporation today announced financial results for its 13-week second fiscal quarter ended December 28, 2019.

Second Quarter Fiscal 2020 Highlights

  • Sales increased 1.8% to $15.0 billion
  • Gross profit increased 2.0% to $2.8 billion; gross margin increased 5 basis points
  • Operating income increased 22.3% to $552.5 million; adjusted operating income increased 3.9% to $626.9 million
  • EPS increased $0.23 to $0.74; adjusted EPS increased $0.10 to $0.85

First Half Fiscal 2020 Highlights

  • Sales increased 1.2% to $30.3 billion
  • Gross profit increased...
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Feb 3 9:40 AM, General News


Sysco’s FreshPoint Central Florida Expands Facility

Sysco Corporation today announced that it will host a grand opening ceremony and open house for government officials, customers, associates and other members of the community at its FreshPoint Central Florida facility on Jan. 22, 2020 from 11:00am to 2:00pm EST. FreshPoint, Sysco’s specialty produce company, is North America’s leading produce distributor.

The event will celebrate the completion of the expanded, state-of-the-art 150,000 square foot facility, which has doubled in size and features environmentally-friendly specifications, and include a ribbon cutting, facility tour, food demonstrations, tastings and more. The FreshPoint Central Florida facility address is 8801 Exchange Drive in Orlando, FL.

As a result of the expansion, the facility features...

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Jan 20 10:07 AM, General News


Sysco Announces U.S. Launch of Sysco Simply Plant-Based Burger Patty

Sysco Corporation, the leading global foodservice distribution company, announced the launch of its Sysco Simply Plant-Based Meatless Burger Patty, a Sysco brand exclusive product. This innovative burger is now available to the company’s customers in the majority of its U.S. markets.

This plant-based burger is the latest offering from Sysco Simply, the company’s lifestyle brand designed to help foodservice operators meet growing consumer demand for flexible and customized menu choices. The Sysco Simply burger is a vegan, gluten-free, non-GMO soy patty with 18 grams of plant-based protein per serving, helping foodservice operators...

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Jan 17 8:23 AM, General News


Sysco Announces Senior Leadership Changes to Accelerate Next Phase of Development

Sysco Corporation announced today that Tom Bené will be stepping down from his roles as president and chief executive officer effective January 31, 2020. Tom will stay on with Sysco as an executive advisor until March 1, 2020, to be available to assist with a smooth and orderly transition of leadership for the Company. The board of directors has unanimously elected Kevin Hourican as the Company’s new president and chief executive officer, starting on February 1, 2020. Kevin most recently served as executive vice president of CVS Health and president of CVS Pharmacy and is a proven business leader with...

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Jan 13 9:42 AM, General News


Aramark Names Thomas Ondrof as Chief Financial Officer

Aramark, a $16 billion global leader in food, facilities management and uniforms, announced today that Thomas Ondrof will join the Company as Executive Vice President, Chief Financial Officer, effective January 7, 2020, succeeding Steve Bramlage who will remain with the Company until April 3, 2020 in the role of Executive Advisor to assist in this transition.

Ondrof previously served as Chief Financial Officer with Performance Food Group, a $23 billion foodservice distributor. Prior to PFG, Ondrof spent 24 years at Compass Group North America, where he served in a variety of financial and...

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Jan 6 9:44 AM, General News


Performance Food Group Company Completes the Acquisition of Reinhart Foodservice

Performance Food Group Company announced that it has completed the acquisition of Reinhart Foodservice, L.L.C. (Reinhart). With the close of the transaction, PFG is now positioned as one of the largest distributors in the U.S., with approximately $30 billion in annual net revenue and nearly 25,000 talented associates. PFG continues to expect to generate approximately $50 million of annual run-rate cost synergies in the third full fiscal year following today’s close. This is anticipated to result in low single-digit Adjusted Diluted EPS accretion in the first full fiscal year and low double-digit accretion expected in the third full fiscal year.

“We are excited to close the acquisition and welcome Reinhart’s many talented associates to the PFG family of companies,” said George Holm, PFG Chairman, President & CEO. “The Reyes family has built a strong business and...

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Dec 31 8:54 AM, General News


Performance Food Group Company Receives FTC Approval for Acquisition of Reinhart Foodservice

Performance Food Group Company announced that it has received approval from the Federal Trade Commission (FTC) to acquire Reinhart Foodservice, L.L.C. (Reinhart). PFG now expects to close the transaction on or about December 30, 2019, subject to the satisfaction or waiver of the remaining closing conditions.

“We are pleased to receive FTC approval to move forward with our acquisition of Reinhart Foodservice,” said George Holm, PFG Chairman, President & CEO. “This transaction builds upon our strong distribution platform and will provide us with greater overall scale and a diverse customer base, including independent customers. We expect this transaction to enhance our ability to help...

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Dec 24 9:44 AM, General News


Daring Foods Launches Nationwide with Rastelli Foods Group

Daring Foods, the first plant-based chicken made from only five non-GMO ingredients, announced today its arrival in the US through a strategic partnership with family-run butcher and industry leading food service supplier, Rastelli Foods Group.

Through the multi-million USD deal partnership, Rastelli Foods Group will be the exclusive national distributor of Daring Foods; bringing its plant-based chicken to restaurants and retailers throughout the country. In addition, Rastelli's will support Daring's push into direct-to-consumer product delivery in February 2020 through daringfoods.com.

This marks a new chapter in plant-based alternatives – created from simple ingredients that customers will have no trouble recognizing, yet mimics chicken in...

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Dec 18 11:27 AM, General News


Performance Food Group Company Appoints Three New Independent Directors

Performance Food Group Company, today announced that the Board of Directors of PFG has appointed Barbara J. Beck, Matthew C. Flanigan, and David V. Singer to the Board of Directors, effective immediately. With these appointments, PFG’s Board of Directors expands to 10 directors.

Barbara J. Beck, 59, recently retired from her position as the Chief Executive Officer of Learning Care Group, Inc. (LCG), a global for-profit early childhood education provider. She served as Chief Executive Officer of LCG, from March 2011 until June 2019, and currently acts as an advisor to American Securities, the private equity owner of LCG. Ms. Beck also serves on the Executive Council of American Securities. Prior to joining LCG, Ms. Beck spent nine years as an executive of Manpower Inc., a world leader in the employment services industry, including...

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Nov 27 9:20 AM, General News


Aramark Names Marc Bruno Chief Operating Officer, U.S. Food & Facilities

Aramark, a global leader in food, facilities management and uniforms, announced today that Marc Bruno has been promoted to Chief Operating Officer, U.S. Food & Facilities, reporting to CEO John Zillmer. In this new role, Bruno will focus on driving the Company’s hospitality culture and growth across Aramark’s eight U.S. food and facilities businesses.

Bruno joined Aramark in 1993 after graduating from the Cornell University School of Hotel Administration. Throughout the course of his career, he has risen through the ranks leading virtually every one of Aramark’s U.S. food and facilities businesses, as well as the Company’s Olympic involvement around the globe. In addition, Bruno has overseen some of the world’s largest events for the Company, including...

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Nov 21 9:23 AM, General News


Michael Foster Joins Sysco Corporation as Chief Information and Technology Officer

Sysco Corporation announced today that Michael Foster will join the company as chief information and technology officer, effective December 2. He will serve as Sysco’s senior technology leader with responsibility for all aspects of our global technology agenda, and will partner with other Sysco leaders in helping to shape the company’s broader strategic direction and future growth agenda.

"We are very pleased to welcome Michael to Sysco,” said Tom Bené, Sysco's chairman, president and chief executive officer. “His deep background in complex supply chain and logistics businesses, as well as his experience leading digital transformation, infrastructure modernization and...

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Nov 20 9:34 AM, General News


Aramark Reports Fourth Quarter and Full Year 2019 Earnings

Aramark today reported fourth quarter and full-year fiscal 2019 results.

“Aramark is an iconic company with a promising future. I am incredibly inspired by the many talented field leaders and valued client partners I have met in just 45 days back with the Company,” said John Zillmer, Chief Executive Officer, Aramark. “My immediate priority is to elevate the Company’s hospitality culture and drive the business forward in a way that unlocks meaningful value for all stakeholders."

Fourth Quarter Results

Consolidated revenue was $4.0 billion in the quarter, an increase of 1.0% over the prior year. Adjusted Revenue grew 4.9% compared to the prior year attributed to...

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Nov 19 10:06 AM, General News


Sysco Acquires Hawaii-Based Armstrong Produce and Kula Produce

Sysco Corporation today announced it has acquired Armstrong Produce and Kula Produce, Hawaii-based broadline fresh produce wholesalers and distributors with approximately $155 million in combined annual revenue. The acquisitions will operate as part of FreshPoint, Sysco’s specialty produce company.

Armstrong Produce was founded in 1979 and has grown from a small family-run wholesale business into Hawaii’s leading produce wholesaler and distributor. With operations in Honolulu, Kona and Kahului, the company supplies a wide range of customers, from local chefs to retailers, with fresh produce daily. Armstrong Produce and Kula Produce are sister companies.

“Armstrong Produce and Kula Produce have been providing quality service and produce to...

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Nov 13 9:22 AM, General News


Performance Food Group Reports First-Quarter Fiscal 2020 Results

Performance Food Group Company announced its first-quarter fiscal 2020 business results.

“I am pleased with our first-quarter results driven by double-digit EBITDA growth in our Foodservice and Vistar segments,” said George Holm, PFG’s President & Chief Executive Officer. “Vistar continued to deliver strong top and bottom-line results fueled by broad-based growth across its sales channels. Our Foodservice segment generated 13% in EBITDA growth driven by its customer-centric focus and its continued strategic investments in people and technology. Based on our strong start to the year, we are pleased to increase our full-year Adjusted EBITDA and Adjusted Diluted EPS outlook.”

First-Quarter Fiscal 2020 Financial Summary

Total case volume increased 10.7% for the first quarter of fiscal 2020 compared to the prior year period, with underlying organic growth of 3.2%. Total case volume included Eby-Brown Company, LLC (“Eby-Brown”), a 5.6% increase in...

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Nov 7 10:08 AM, General News


Sysco Announces 2019 Corporate Social Responsibility Report

Sysco Corporation, the leading global foodservice distribution company, announced today it has published its 2019 Corporate Social Responsibility (CSR) Report, documenting the company’s progress toward the 2025 CSR goals established in 2018. Sysco’s CSR strategy focuses on three key areas: people, products and planet, with the objective of Delivering A Better Tomorrow. This strategy sets a clear path for the future and demonstrate the company’s continued commitment to caring for people, sourcing products responsibly and protecting the planet.

“As we celebrate Sysco’s 50th anniversary this fiscal year, we understand the importance of a strong CSR strategy that is focused on finding systemic solutions and...

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Nov 7 8:23 AM, General News


US Foods Reports Third Quarter Fiscal 2019 Earnings 

US Foods Holding Corp., one of the leading foodservice distributors in the United States, today announced results for the third quarter of fiscal 2019. In this press release we refer to certain organic financial results. Organic financial results exclude contributions during the respective period from the Food Group of Companies (the "Food Group"), which was acquired on September 13, 2019.

Third Quarter Fiscal 2019 Highlights

  • Total case volume increased 3.0%; independent restaurant case volume increased 6.3%
  • Total organic case volume increased 0.9%; independent restaurant organic case volume increased 4.2%
  • Net sales increased 6.1% to $6.5 billion; organic Net sales increased 4.0% to...
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Nov 5 9:40 AM, General News


Sysco Reports First Quarter Fiscal 2020 Results

Sysco Corporation today announced financial results for its 13-week first fiscal quarter ended September 28, 2019.

First Quarter Fiscal 2020 Highlights

  • Sales increased 0.6% to $15.3 billion
  • Gross profit increased 1.4% to $2.9 billion; gross margin increased 15 basis points
  • Operating income increased 6.4% to $668.3 million; adjusted¹ operating income increased 7.3% to $741.9 million
  • EPS increased $0.06 to $0.87; adjusted¹ EPS increased $0.08 to $0.98

“We saw improved financial results in the first quarter with adjusted operating income growth that was...

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Nov 4 9:54 AM, General News


Sysco’s Cutting Edge Solutions Announces Additional Product Offerings

Sysco Corporation, the leading global foodservice distribution company, announced the availability of nine new products exclusively for customers through its Cutting Edge Solutions platform.

Designed to enable customers to succeed by differentiating themselves in an evolving and competitive business environment, Cutting Edge Solutions products are sourced from leading and up-and-coming suppliers and assists customers with refreshing their menus, driving increased traffic and streamlining back-of-house operations. Since its inception in October 2015, Cutting Edge Solutions has delivered...

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Oct 8 9:29 AM, General News


United Natural Foods, Inc. Reports Fourth Quarter Fiscal 2019 Results

United Natural Foods, Inc. today reported financial results for the fourth quarter and fiscal year ended August 3, 2019.

Highlights

  • Fourth Quarter Net Sales Increased to $6.41 billion, or 2.8% when excluding the contribution from SUPERVALU and the additional week in the quarter compared to last year's fourth quarter
  • Fourth Quarter Net income of $18.9 million
  • Fourth Quarter Earnings Per Diluted Share (EPS) of $0.36; Adjusted EPS of $0.44
  • Net outstanding debt decreased by $166 million since the end of the third quarter and...
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Oct 2 8:18 AM, General News


HFM FoodService Becomes Sysco Hawaiʻi

Sysco Corporation (NYSE: SYY), the leading global foodservice distribution company, announced that HFM FoodService will officially change its name to Sysco Hawaiʻi today, while celebrating the grand opening of its 3,000 square-foot, state-of-the-art Test Kitchen at the company’s Oahu facility. Additionally, Sysco Hawaiʻi presented the Hawaiʻi Foodbank with a $25,000 donation to reaffirm its commitment to ending hunger, as part of Sysco Hawaiʻi’s Nourishing Neighbors program.

HFM has been the leading wholesale foodservice distributor in the Pacific region for more than 50 years, and in October 2017, HFM was acquired by Sysco Corporation, the leading global distributor of food and related products.

“With the new Sysco Hawaiʻi, we now offer the “best of local from a global company,” said Jason Wong, president, Sysco Hawaiʻi. “We will leverage the strengths of the entire Sysco Hawaiʻi team with...

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Aug 29 8:17 AM, General News


SpartanNash Announces Second Quarter 2019 Financial Results

SpartanNash Company today reported financial results for the 12-week second quarter and 28-week period ended July 13, 2019.

“Consistent with our comments in the press release issued earlier this week, the Board of Directors and I remain confident in the Company’s overall strategic direction,” said Dennis Eidson, Interim President and Chief Executive Officer. “I am excited to work with our team of talented associates as we focus our efforts on improved execution, while continuing to...

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Aug 16 8:15 AM, General News


Performance Food Group Reports Fourth-Quarter and Full-Year Fiscal 2019 Results

Performance Food Group Company today announced its fourth-quarter and full-year fiscal 2019 business results. “Fiscal 2019 was a successful year for PFG, and I’m very pleased with our team’s execution,” said George Holm, PFG’s Chairman, President and Chief Executive Officer. “Our strong top-line growth, combined with increased gross profit per case, led to profitability at the high end of our expectations for the year. Our core business segments delivered strong financial results led by Vistar’s double-digit EBITDA growth. Looking ahead to fiscal 2020, we believe our two recently announced strategic acquisitions position us well across our business and we expect fiscal 2020 to be another year of solid earnings growth.”

Fourth-Quarter Fiscal 2019 Highlights

  • Total case volume grew 9.2%
  • Net sales increased 28.4% to $5.9 billion
  • Gross profit improved 14.4% to...
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Aug 14 8:26 AM, General News


UNFI Announces Management Changes

United Natural Foods, Inc. today announced changes to its senior management team. Mike Zechmeister will resign his position as Chief Financial Officer, effective August 23, 2019, to pursue an opportunity outside the Company. John W. Howard has been appointed Interim Chief Financial Officer while the Company begins an internal and external search for Mr. Zechmeister's permanent replacement. Mr. Howard joined UNFI in July as Senior Vice President, Finance and Accounting.

Steven L. Spinner, UNFI's Chairman and Chief Executive Officer said, "I thank Mike for his contributions to UNFI over the past four years of significant growth and change. In the near term, we're fortunate to have John's experience and financial acumen available to...

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Aug 13 9:07 AM, General News


Sysco Acquires J. Kings Food Service Professionals

Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, today announced it has acquired J. Kings Food Service Professionals, a New York broadline distributor with approximately $150 million in annual sales.

J. Kings Food Service Professionals, headquartered in Holtsville, New York, was founded by John King more than 45 years ago. Today, the company has grown to one of the leading independent broadline distributors in the New York area, also servicing customers in Connecticut and New Jersey. The majority of the company’s customers are independent restaurant operators, but the company also serves institutional, retail and multi-unit customers.

“J. Kings is a well-respected, New York area broadline distributor, and we are happy to welcome them into the Sysco family of businesses,” said Greg Bertrand, Sysco’s executive vice president, U.S. foodservice operations. “As Sysco continues to focus on...

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Aug 13 8:54 AM, General News


SpartanNash Announces Leadership Transition

SpartanNash Company (Nasdaq: SPTN) (“SpartanNash” or the “Company”) today announced that its Board of Directors has appointed the Company’s Chairman, Dennis Eidson, to the additional roles of Interim President and CEO, effective immediately. Mr. Eidson will serve in these additional roles until the next CEO is identified. Mr. Eidson served as CEO from 2008-2017, and previously served as SpartanNash’s President, Chief Operating Officer and Executive Vice President of Marketing and Merchandising during his 16-year tenure with the Company. The Board also announced that it has accepted the resignation of President and CEO, Dave Staples, who is leaving the Company and the SpartanNash Board.

“The Board remains confident in the Company’s strategic direction and its ability to generate top line growth; however, execution has fallen short of our expectations and we believe that now is the time for...

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Aug 12 9:36 AM, General News


Sysco Reports Fourth Quarter and Full Year 2019 Results

Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week fourth fiscal quarter and its fiscal year ended June 29, 2019.

Fourth Quarter Fiscal 2019 Highlights

  • Sales increased 1.0% to $15.5 billion
  • Gross profit increased 2.1% to $3.0 billion; gross margin increased 21 basis points
  • Operating income increased 5.4% to $720.5 million; adjusted¹ operating income increased 6.6% to $818.1 million
  • EPS increased $0.18 to $1.03; adjusted EPS increased...
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Aug 12 9:22 AM, General News


US Foods Launches US Foods Direct

US Foods Holding Corp. (NYSE: USFD) today announced the addition of US Foods Direct to the company’s exclusive e-commerce platform. This new offering is integrated into US Foods’ online ordering platform, providing operators with an endless aisle of more than 40,000 specialty products and counting. US Foods Direct gives operators easier access to hard-to-find ingredients, such as specialty spices, seasonings, herbs, pastas, flours, sauces or oils, and innovative, on-trend items such as plant-based proteins, dairy-free or vegan alternatives, and gluten-free products. With US Foods Direct, operators now have a one-stop shop for distinctive ingredients that will set their menu apart from the competition.

Sixty-three percent of foodservice operators say they want to improve on offering something different from the competition. Unfortunately, for many operators who are searching for unique ingredients, this can mean sourcing products from other specialty food channels which require longer lead times and additional resources. With sixty two percent of operators reporting...

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Aug 7 10:07 AM, General News


US Foods Reports Second Quarter Fiscal 2019 Earnings

US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the United States, today announced results for the second quarter of fiscal 2019.

Second Quarter Fiscal 2019 Highlights

  • Total case volume increased 1.7%; independent restaurant case volume increased 4.8%
  • Net sales increased 4.6% to $6.4 billion
  • Gross profit increased 2.5% to $1.1 billion
  • Income before income taxes decreased $7 million to $154 million
  • Net income decreased $10 million to $116 million
  • Adjusted EBITDA increased 6.7% to...
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Aug 6 9:39 AM, General News


Cargill and Ecolab Accelerate Food Industry Innovation 

Recognizing the critical role that innovation plays in creating a safer and more sustainable food system, Cargill and Ecolab are supporting a second class of startups through the Techstars Farm to Fork Accelerator.

“Solving the greatest food and sustainability challenges the world faces today requires partnership and fresh, innovative ideas. These are the two key ingredients of the Techstars Farm to Fork program,” said Justin Kershaw, Cargill CIO. “Having the brightest minds in food and ag tech in Cargill and Ecolab’s backyards provides an amazing opportunity to infuse startup energy into our company, while also helping bring critical solutions to...

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Jul 16 11:50 AM, General News


Performance Food Group Company to Acquire Reinhart Foodservice

Performance Food Group Company (“PFG”) (NYSE: PFGC) today announced it has entered into a definitive agreement to acquire Reinhart Foodservice, L.L.C (“Reinhart”) from Reyes Holdings, L.L.C. in a transaction valued at $2.0 billion, or approximately $1.7 billion net of an estimated tax benefit to PFG of approximately $265 million. With annual net sales of over $6 billion, Reinhart is the second largest privately held foodservice distributor in the U.S. and is headquartered in Rosemont, IL.

“We are excited to announce the strategic acquisition of Reinhart and welcome them to Performance Food Group,” said George Holm, PFG Chairman, President & Chief Executive Officer. “I’ve known the Reyes family for nearly two decades, and...

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Jul 2 8:24 AM, General News


United Natural Foods Inc Reports Third Quarter Fiscal 2019 Results

United Natural Foods, Inc. (NYSE: UNFI) (the "Company" or "UNFI") today reported financial results for the third quarter of fiscal 2019 ended April 27, 2019.

Third Quarter Fiscal 2019 Highlights

  • Net Sales Increased to $5.96 Billion, Including $3.24 Billion from SUPERVALU
  • Earnings Per Diluted Share (EPS) of $1.12; Adjusted EPS of $0.61
  • Integration of SUPERVALU Progressing; UNFI Now Operating As One Company with A National Leadership Team and Structure

"Our transformational journey continues, and I'm proud of what our team has accomplished this quarter," said Steven L. Spinner, Chairman and Chief Executive Officer. "I am excited about our next chapter and the acceleration of value creation we expect to...

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Jun 6 8:57 AM, General News


SpartanNash Appoints New President of Food Distribution

SpartanNash (Nasdaq: SPTN) announced today that Mr. Walt Lentz has joined the company as Executive Vice President and President, Food Distribution, effective May 31, 2019. Mr. Lentz has 32 years of logistics and supply chain experience in roles of increasing leadership responsibility, including serving from 2017 to 2019 as Acting Chief Executive Officer and Chief Supply Chain Officer of Peapod LLC, the grocery eCommerce business division of Ahold Delhaize.

As President of Food Distribution, Mr. Lentz will have full responsibility of SpartanNash’s $4 billion food distribution segment and responsibility for the total company supply chain. He will work with the SpartanNash team in developing and executing strategic plans to grow the wholesale distribution and food manufacturing businesses’ profitability. Mr. Lentz will report to SpartanNash’s President and Chief Executive Officer, David M. Staples...

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Jun 3 3:23 PM, General News


Beyond Meat Partners with Zandbergen to Launch Production in Europe

Beyond Meat announced a partnership with Zandbergen World's Finest Meats to produce its plant-based meats at a facility in Europe. The companies expect the facility to be up and running by 2020.

This will mark the first time Beyond Meat will hold production outside of the United States. The new space will allow Beyond Meat to quickly distribute their products to Europe while shrinking their transportation footprint. 

“The consumer response in Europe has been very positive and we look forward to being able to better serve those customers..."

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May 28 10:12 AM, General News


SpartanNash Announces First Quarter 2019 Financial Results

SpartanNash Company (the "Company") (Nasdaq: SPTN) today reported financial results for the 16-week first quarter ended April 20, 2019.

"We are pleased with our team's efforts to grow net sales across all three business segments, particularly in light of the challenging operating environment," said David Staples, President and Chief Executive Officer. "While we are not satisfied with our bottom-line results for the quarter, our team remains committed to our fiscal 2019 objectives and long-term strategy, which we believe will support both future growth and profitability long-term."

Strategic Business Objectives

As outlined in its fourth quarter earnings release, the Company has defined its top five objectives for 2019. These objectives remain critical in the context of the Company's long-term strategic objective to evolve into a company with a national, highly efficient distribution platform servicing a diverse customer base through...

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May 21 8:56 AM, General News


US Foods Reports First Quarter Fiscal 2019 Earnings 

US Foods Holding Corp. (NYSE: USFD),one of the largest foodservice distributors in the United States, today announced results for the first quarter of fiscal 2019.

First Quarter Fiscal 2019 Highlights

  • Total case volume increased 1.4%; independent restaurant case volume increased 5.5%
  • Net sales increased 3.6% to $6.0 billion
  • Gross profit increased 6.0% to $1,052 million
  • Income before income taxes increased $28 million to $91 million
  • Net income increased $4 million to $71 million
  • Adjusted EBITDA increased 3.6% to...
Full Story »
May 7 11:54 AM, General News


Sysco Reports Third Quarter Fiscal 2019 Results

Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week third fiscal quarter ended March 30, 2019.

Third Quarter Fiscal 2019 Highlights

  • Sales increased 2.2% to $14.7 billion
  • Gross profit increased 2.9% to $2.8 billion; gross margin increased 14 basis points
  • Operating income increased 9.8% to $529.6 million; adjusted¹ operating income increased 16.6% to $620.2 million
  • EPS increased $0.22 to $0.85; adjusted¹ EPS increased $0.12 to $0.79...
Full Story »
May 6 11:32 AM, General News




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