Sysco Announces Major €2.5mn Investment In Limerick Facility

The company, which is part of Sysco Corporation, to invest €2.5mn in development of site.

Sysco, a Sysco company, has announced a €2.5mn investment in their facility in Newcastle West, Co. Limerick.  In 2018, the company made a commitment to an investment programme at the location, which employs upwards of 300 people across a range of functions.

The development work, which gets underway this month, will involve a complete modernisation of the facility. Alongside renovations of existing structures, a shared services centre to include a customer development kitchen and showrooms, will be created. In addition, a new gym, restaurant and training rooms, will be built for the 300 people currently employed at the site. Planning permission has been granted for the development work by Limerick County Council.

At this week’s announcement, Peter Jackson, CEO, Sysco, said: “Today’s announcement is important both to our team here in Limerick and also to the wider Sysco organisation. We are ambitious for the continued growth of our business across the Island of Ireland and Newcastle West has always played an important role in that ambition.

“The modernisation and development of our facility here will strengthen our ability to service customers ongoing as well as providing an enhanced working environment for current and future employees. This investment of €2.5mn in our facility in Newcastle West will underpin the long-term future of Sysco and Sysco in the town and will bring wider benefits to the local economy.”

Minister Patrick O’Donovan TD, Minister of State at the Department of Finance and the Department of Public Expenditure and Reform and TD for Limerick County said: “I welcome this commitment by Sysco and Sysco to the community of Newcastle West. Balanced regional development with businesses and jobs located outside the main cities is key to future economic growth in this country.

“As the local representative for the area, I believe this announcement is evident of the strong role Newcastle West will continue to play in the Sysco business.”

Sysco has had an operation in Newcastle West since the 1980s. Estimated completion of the development is February 2020 at a total cost of €2.5mn.

Sysco also recently completed the letting of a 83,000sq ft logistics building in Little Island, Cork. The Grade A building had been completely revamped and undergone a multimillion-euro investment in advance of the deal with Pallas.

About Sysco

Sysco is the leading food service provider on the island of Ireland and has been part of the Sysco Corporation, the leading global foodservice distribution company since 2009. Serving more than 11,500 customers, Sysco employs over 1,300 people across Ireland and sources over 15,000 food products worldwide with 70% sourced locally across the island of Ireland.

About Sysco

Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare 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.

With more than 69,000 associates, the company operates more than 320 distribution facilities worldwide and serves more than 650,000 customer locations. For fiscal 2019 that ended June 29, 2019, the company generated sales of more than $60 billion. Information about our CSR program, including Sysco’s 2019 Corporate Social Responsibility Report, can be found at www.sysco.com/csr2019report.

For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter at https://twitter.com/Sysco. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at http://investors.sysco.com/, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information.

Investors should also follow us at www.twitter.com/SyscoStock and download the Sysco IR App, available on the iTunes App Store and the Google Play Market. In addition, investors should continue to review our news releases and filings with the Securities and Exchange Commission. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.