SYSCO's Buckhead Beef Subsidiary plans to acquire Royalty Foods, Inc.
Royalty Foods, Inc., is a specialty meat distributor located in Orlando, Florida.
23/05/05 SYSCO Corporation, North America's largest foodservice marketer and distributor, has announced that its Sysco/Buckhead Beef distribution subsidiary has signed an asset purchase agreement to acquire Royalty Foods, Inc., a specialty meat distributor located in Orlando, Florida. Terms of the transaction, which is expected to be completed on May 29, were not disclosed.
Founded in 1983 by Robert G. Meeks and Benjamin Guzzone, Royalty Foods employs 170 associates and operates from a 65,000-square-foot steak cutting and distribution facility. The company is a Certified Angus Beef distributor and supplies center of the plate, frozen and dry foods to foodservice operations throughout the southeastern United States. For calendar year 2004 Royalty Foods generated sales of approximately $75 million.
