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13/06/2012
NI Food Firm Sold To US Interest
A County Down food firm is being bought over by a US company for an undisclosed sum.
Crossgar Foodservice, which sells poultry, meat, chilled, frozen and grocery items throughout Ireland and the UK, was bought by a subsidiary of the American company Sysco.
The firm made the acquisition through its County Limerick subsidiary Pallas Foods, in a bid to expand its presence on the island of Ireland.
It is a food product marketer and distributor and supplies restaurants, schools and other clients worldwide. Last year it reported record sales of more than $39bn.
Sysco group president Mike Green said Crossgar Foodservice was a "strong company with excellent customer relationships".
He said: "This investment, along with the acquisition of Pallas Foods in 2009 represents our commitment to the Ireland market and provides us additional strategic opportunities."
It will keep its own brand identity and its existing managerial team.
238 people work across Crossgar Foodservice's four facilities.
Tim Geary of Pallas Foods said he hoped to help in "positioning the investment for further growth".
Gerald Bell of Crossgar Foodservice said the transaction would allow his company to provide more products across a wider geographical area.
He said: "We are very pleased to join the Sysco family and we look forward to providing the same great service to our customers and showing them an even broader line of quality-assured foodservice products."
(NE)
Crossgar Foodservice, which sells poultry, meat, chilled, frozen and grocery items throughout Ireland and the UK, was bought by a subsidiary of the American company Sysco.
The firm made the acquisition through its County Limerick subsidiary Pallas Foods, in a bid to expand its presence on the island of Ireland.
It is a food product marketer and distributor and supplies restaurants, schools and other clients worldwide. Last year it reported record sales of more than $39bn.
Sysco group president Mike Green said Crossgar Foodservice was a "strong company with excellent customer relationships".
He said: "This investment, along with the acquisition of Pallas Foods in 2009 represents our commitment to the Ireland market and provides us additional strategic opportunities."
It will keep its own brand identity and its existing managerial team.
238 people work across Crossgar Foodservice's four facilities.
Tim Geary of Pallas Foods said he hoped to help in "positioning the investment for further growth".
Gerald Bell of Crossgar Foodservice said the transaction would allow his company to provide more products across a wider geographical area.
He said: "We are very pleased to join the Sysco family and we look forward to providing the same great service to our customers and showing them an even broader line of quality-assured foodservice products."
(NE)
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
