Sysco Corporation is the largest global distributor of food and related products, primarily to the foodservice or food-away-from-home industry. The company provides products and related services to approximately 730,000 customer locations, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers. Founded in 1969, Sysco has grown through internal expansion and acquisitions.

• Employees: Approximately 76,000 (as of June 29, 2024)
• Geographic Footprint: Operations in North America and Europe
• Headquarters: Houston, Texas
• Founded: 1969
• Number of locations/facilities: 340 distribution facilities (as of June 29, 2024)
• Revenue: $78.8 billion (FY2024)
• Key Subsidiaries/Brands: FreshPoint, Specialty Meats and Seafood Group, Greco & Sons, Inc., Edward Don & Company, SYGMA, Guest Worldwide

• CEO: Kevin P. Hourican
• CFO: Kenny K. Cheung
• Senior Vice President and Chief Accounting Officer: Jennifer L. Johnson

• Annual Revenue: $78.8 billion (FY2024)
• Net Income: $2.0 billion (FY2024)
• Total Assets: $24.9 billion (as of June 29, 2024)
• Employees: Approximately 76,000 (as of June 29, 2024)
• Key Financial Highlights: Sales growth of 3.3% compared to fiscal 2023, operating income increased 5.4% to $3.2 billion, net earnings increased 10.5% to $2.0 billion.

Sysco distributes a wide range of products including:

• Frozen Foods: Meats, seafood, prepared entrees, fruits, vegetables, and desserts.
• Canned and Dry Foods
• Fresh Meats and Seafood
• Dairy Products
• Beverage Products
• Imported Specialties
• Fresh Produce
• Non-Food Items: Paper products, tableware, cookware, restaurant and kitchen equipment, and cleaning supplies.

Sysco operates through the following reportable segments:

• U.S. Foodservice Operations: Distributes a full line of food and non-food products through Broadline and Specialty operations.
• International Foodservice Operations: Distributes a full line of food and non-food products outside of the U.S.
• SYGMA: U.S. customized distribution operations serving quick-service chain restaurant customer locations.
• Other: Primarily hotel supply operations, Guest Worldwide.

Sysco's strategic priorities include:

• Enhancing the customer experience through digital tools.
• Providing customer-focused marketing and merchandising solutions.
• Efficiently serving customers through a flexible delivery framework.
• Leveraging diverse teams to deliver expertise and differentiated services.
• Cultivating new channels, segments, and capabilities through organic growth and strategic M&A.

Sysco operates in the foodservice distribution industry, which is highly competitive and fragmented. Key market trends include:

• Demand for locally sourced products.
• Increasing competition from non-traditional sources.
• Pressure on profit margins.

Sysco estimates it serves about 17% of the U.S. foodservice market and believes it is the largest foodservice distributor in the U.S. and Canada.

• Industry Risks: Low margins, inflation, deflation, and volatile food costs.
• Operational Risks: Labor shortages, supply chain disruptions, and climate change impacts.
• Financial Risks: Fuel cost volatility, credit market access, and foreign exchange rate fluctuations.
• Regulatory Risks: Compliance with food safety regulations, environmental laws, and labor laws.
• Competitive Risks: Intense competition, pricing pressures, and the impact of group purchasing organizations.