Sysco Ireland Announces Intent to Buy Ready Chef
Sysco Ireland, a major player in food service distribution, has made a move to purchase Ready Chef, known for its specialty in fresh produce. This deal is currently pending regulatory approval. Ready Chef, a supplier of fresh and prepared fruits and vegetables, plays a significant role in Ireland’s food service industry. With 100 employees stationed at its Glasnevin depot, Ready Chef reported revenues of €18.9 million in 2022.
Expansion and Leadership: Sysco Ireland’s Strategy
Mark Lee, the CEO of Sysco Ireland, believes that acquiring Ready Chef will enhance their product variety and service in the fresh produce sector, further cementing their leadership in the industry. He emphasized Sysco’s roots as a family business and expressed a commitment to fostering Ready Chef’s growth while maintaining its family-oriented ethos. Post-acquisition, Ready Chef will operate independently within Sysco Ireland, a strategy Sysco previously applied with its Classic Drinks division.
Financial Turnaround for Sysco Ireland
Sysco Foods Ireland Unlimited Company has seen a remarkable financial turnaround. After a loss of €8.8 million in 2021, the company reported a profit of €15.9 million last year. Additionally, its annual turnover increased significantly from €248.4 million to €459.3 million. As of July 2022, Sysco Ireland had shareholders’ funds totaling €101.4 million.
