HOUSTON, TX - Broadening its market reach in what many might call paradise Sysco Corporation announced yesterday that it has agreed to acquire Hawaii-based broadline distributor HFM FoodService.
“HFM has been providing quality service to Hawaii and Guam for over 50 years, and we are excited to welcome them to the Sysco family of companies,” said Tom Bené, Sysco’s President and Chief Operating Officer. “A key pillar of Sysco’s strategy for continued growth and value creation is the continuous assessment of new market opportunities. Acquiring HFM provides Sysco with direct access to the growing Hawaiian market and is in clear alignment with our strategy for disciplined, profitable growth of the business.”
HFM FoodService was founded as a flour mill in 1964, according to a press release, and has since grown into one of the largest foodservice distributors in the state of Hawaii with approximately $290 million in annual sales.
“By leveraging the combined skills of Sysco and HFM, we are better positioned to serve our customers,” Bené continued. “This partnership provides an opportunity to broaden our vision to be our customers’ most valued and trusted business partner.”
Sysco said that it expects to retain the executive leadership team of HFM, as well as all current associates.
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