Sysco Canada, a wholly owned subsidiary of Sysco Corp., Houston, Texas, agreed to acquire Tannis Trading, Inc., a broadline foodservice distributor in Ottawa, Ontario, Canada.
While financial terms of the proposed transaction were not disclosed, Tannis Trading maintains revenues of approximately $118 million (Canadian) in its most recent fiscal year. The transaction's completion is subject to review by Canadian regulatory agencies.
"Tannis has a 75-year history of providing quality service to customers in Ottawa, Canada's fourth-largest metropolitan market, and the surrounding areas," says Randy White, president of Sysco Canada. "This acquisition demonstrates Sysco's commitment to better serve our customers, improve our service footprint, grow our business and achieve our goal of increasing sales in Canada."
Upon completion of the transaction, the Tannis distribution facility in Ottawa will remain in place along with the existing employees and management team.