The Bartlett-based company’s annual revenue is $800 million, according to the statement about the sale. Sysco’s annual sales topped $52 billion during the last fiscal year. Terms of the deal, which was announced today, were not disclosed.
The deal is subject to regulatory approvals. Once it closes, Greco & Sons will operate as a standalone division within Sysco. Houston-based Sysco plans to retain Greco & Sons executive leadership team and associates.
Sysco President and CEO Kevin Hourican said the acquisition will help Sysco better serve its Italian food-focused customers.
“Greco has perfected a go-to-market approach to serve the Italian segment, and we are committed to maintaining that excellence and expanding the capability to new geographies, over time,” he said in the statement
Greco & Sons is partially owned by Arbor Investments, a Chicago private-equity firm that specializes in food and beverage acquisitions. Arbor raised its biggest fund last fall, attracting $1.5 billion and doubling its assets under management.