Sysco Announcement

SYSCO IRELAND ANNOUNCES PLAN TO ACQUIRE READY CHEF, SPECIALIST PRODUCE SUPPLIER

Acquisition of Ready Chef is part of Sysco Ireland’s continued growth strategy

[Dublin, Ireland, December 8^th, 2023] — Sysco Ireland, Ireland’s leading food service distributor and a wholly owned subsidiary of Sysco Corporation, today announced it has entered into an agreement to acquire Ready Chef Ltd, a specialist supplier of fresh and prepared produce solutions to the Food Service Industry. Ready Chef generated €18.9 million revenue in 2022, and currently employs 100 people at its depot in Glasnevin, Dublin.

Commenting, Mark Lee, CEO Sysco Ireland said:
“The acquisition of Ready Chef allows us to broaden our range and service capability in the fresh and prepared produce category and solidify our position as the industry leader in fresh foodservice on the island.

Sysco Ireland evolved from a family-owned business, and we are committed to accelerating Ready Chef’s growth while preserving their family business legacy. This transaction will bring together the expertise, resources, and talent of both organisations to deliver even greater value and choice to our customers.

Following the completion of this transaction, Ready Chef will function as an independent division of Sysco Ireland, mirroring the approach taken with our Classic Drinks business.”

Ready Chef specialises in the supply of fresh and prepared fruit and vegetables to all parts of the Irish food service sector. Founded by William Tallon Senior in the 1960s, the company has been run by his sons David and William since 1990. Ready Chef will continue to operate independently under the leadership of the current management team.

William Tallon, Managing Director, Ready Chef said:
“Having built a family business over the last 40 years with my brother David, it is important for us to secure its long-term future. By joining the Sysco family, we are confident we are achieving that. Together with Sysco Ireland we will continue to grow Ready Chef in the prepared fruit and vegetable sector of the food service market”.

The acquisition is subject to Competition and Consumer Protection Commission approval.

About Sysco Ireland

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 1,500 people across Ireland and sources over 15,000 food products worldwide with 70% sourced locally across the island of Ireland.

About Ready Chef

Ready Chef supplies a full range of fresh and prepared fruits, salads, vegetables, and potatoes products from its BRCGS Grade A facility in Glasnevin. This makes Ready Chef unique amongst its competitors. Its ability to respond to customer requests for prepared fruit, vegetable or salad solutions has been a cornerstone of its success. For more about Ready Chef visit www.readychef.ie.

Ready Chef has a team of 100 people.

About Sysco

Sysco is the global leader in selling, marketing, and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and to 72,000 colleagues, the company operates 334 distribution facilities worldwide and serves approximately 725,000 customer locations. For fiscal year 2023 that ended July 1, 2023, the company generated sales of more than $76 billion. Information about our Sustainability program, including Sysco’s 2022 Sustainability Report and 2022 Diversity, Equity & Inclusion Report, can be found at www.sysco.com.

For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoFoods. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at 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. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.