Sysco

This article is about the American food-service company. For the Canadian Crown corporation, see Sydney Steel Corporation.
Not to be confused with Cisco or Sisqó.
"SYY" redirects here. The term may also refer to the IATA airport code for Stornoway Airport.
Sysco Corporation
Company typePublic
IndustryWholesale
FoundedMarch 19, 1969; 55 years ago (1969-03-19)
Founder
Headquarters
Houston, Texas
,
U.S.
Key people
Kevin Hourican (chairman and CEO)
Services
  • Food-service
  • Food-away-from-home
Revenue
  • Increase US$78.8 billion (2024)
  • Increase US$3.20 billion (2024)
  • Increase US$1.96 billion (2024)
Total assets
  • Increase US$24.9 billion (2024)
Total equity
  • Decrease US$1.86 billion (2024)
Number of employees
76,000 (2024)
Websitesysco.com
Footnotes / references
Financials as of June 29, 2024.[1]

Sysco Corporation (short for Systems and Services Company) is an American multinational corporation involved in marketing and distributing food products, smallwares, kitchen equipment and tabletop items to restaurants, healthcare and educational facilities, hospitality businesses like hotels and inns, and wholesale to other companies that provide foodservice (like Aramark and Sodexo). The company is headquartered in the Energy Corridor district of Houston, Texas.[2] Sysco is the world's largest broadline food distributor; it has more than 600,000 clients in a wide array of fields. Management consulting is also an integral part of their services. The company operates approximately 330 distribution facilities worldwide; providing service to over 90 countries.

The company was founded in 1969 by Herbert Irving, John F. Baugh, and Harry Rosenthal.[3] The company became public on March 3, 1970. On July 20, 2009, Fortune magazine ranked Sysco No. 204 in the annual Fortune 500 companies in world based on sales volume. On May 3, 2010, Fortune ranked Sysco as the seventh largest Fortune 500 Company in Texas and 55th largest in the U.S. by total revenue.[4] Sysco is also the largest non-oil related company in Houston and the third largest non-oil related company in Texas (behind AT&T and Dell).[4] The company ranked No. 54 in the 2018 Fortune 500 list of the largest US corporations by total revenue.[5]

In December 2013, Sysco announced an $8.2 billion planned acquisition of its next-largest food distribution rival, US Foods.[6] The Federal Trade Commission challenged the acquisition as a violation of the Clayton Antitrust Act that would substantially lessen competition. After the court ruled that the combined company would likely reduce competition because it would control 75% of the U.S. food service industry, Sysco terminated its merger with US Foods.[7]

  1. ^ "Sysco Corporation FY 2024 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. August 28, 2024. Retrieved August 28, 2024.
  2. ^ "Land Use and Demographics[permanent dead link]." Energy Corridor District. March 2009. 3 (7/53). Retrieved on January 16, 2010.
  3. ^ "Sysco". Library of Congress. Archived from the original on October 31, 2020. Retrieved March 17, 2024.
  4. ^ a b "Fortune 500 2010: States: Texas Companies". CNN.
  5. ^ "Fortune 500 Companies 2018: Who Made the List". Fortune. Retrieved 2018-11-10.
  6. ^ Some independents eager to take bite out of Sysco, The Deal Pipeline, William McConnell, April 3, 2014.
  7. ^ Gara, Antoine (June 29, 2015). "Sysco Cancels $8.2 Billion US Foods Takeover In Big Antitrust Win For FTC". Forbes. Retrieved October 1, 2015.