Sysco Acquires The Coastal Companies
December 6, 2021
Cleary Gottlieb is representing Sysco Corporation (Sysco) in its acquisition of Coastal Group Intermediate Holdings LLC and its subsidiaries The Coastal Companies.
The closing of the transaction, which was announced on December 6, 2021, is subject to regulatory approvals and other customary closing conditions. The terms of the transaction were not announced.
The Coastal Companies is a leading fresh produce distributor and value-added processer. Founded in 1992 and based in Laurel, Maryland, The Coastal Companies generates annual revenue of approximately $600 million and is comprised of three integrated businesses:
- Foodservice Distribution – Coastal Sunbelt Produce is the largest foodservice supplier of produce, specialty, fresh-cut, and value-added products in the Mid-Atlantic region.
- Retail Distribution – Lancaster Foods is a wholesale supplier of produce and fresh-cut products to retail distribution centers and store locations.
- Value-Added Manufacturing – East Coast Fresh is a regional processor of fresh-cut and value-added products, manufacturing items like pre-cut fruits and vegetables, salsas, meal preparation solutions, and grab-and-go items.
Sysco is the global leader in selling, marketing, and distributing food products to restaurants, health care and educational facilities, lodging establishments, and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries.
For more information, please see the press release here.