-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FzpmSXWkd6ygW+GqJmCyZieFhAf1uN74oMgudxHDAQ3Bdz7l1t1pbwb4rvnol0BK qF6dsV1KoQ3tlrPZH6v/wA== 0000914062-01-500019.txt : 20010123 0000914062-01-500019.hdr.sgml : 20010123 ACCESSION NUMBER: 0000914062-01-500019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010116 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010122 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SYSCO CORP CENTRAL INDEX KEY: 0000096021 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & RELATED PRODUCTS [5140] IRS NUMBER: 741648137 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-06544 FILM NUMBER: 1512925 BUSINESS ADDRESS: STREET 1: 1390 ENCLAVE PKWY CITY: HOUSTON STATE: TX ZIP: 77077 BUSINESS PHONE: 2815841390 8-K 1 sy8k1601.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 16, 2001 SYSCO CORPORATION (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation) 1-06544 74-1648137 (Commission File Number) (IRS Employer Identification No.) 1390 Enclave Parkway Houston, Texas 77077-2099 ---------------------------------------------- (Address of principal executive offices, including zip code) (281) 584-1390 (Registrant's telephone number, including area code) -------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events. On January 16, 2001, SYSCO Corporation ("SYSCO") issued a press release regarding its acquisition of The Freedman Companies. SYSCO hereby incorporates by reference herein the information set forth in its Press Release dated January 16, 2001, a copy of which is attached hereto as Exhibit 99.1. Except for the historical information contained in this report, the statements made by SYSCO are forward looking statements that involve risks and uncertainties. All such statements are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. SYSCO's future financial performance could differ significantly from the expectations of management and from results expressed or implied in the Press Release. For further information on other risk factors, please refer to the "Risk Factors" contained in SYSCO's Annual Report on Form 10-K for the fiscal year ended July 1, 2000 as filed with the Securities and Exchange Commission. Item 7. Financial Statements and Exhibits. (a) Financial Statements. Not applicable. (b) Pro Forma Financial Information. Not applicable. (c) Exhibits. Exhibit Number Description -------------- ----------- 99.1 Press Release dated January 16, 2001 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, SYSCO has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SYSCO CORPORATION Date: January 22 , 2001 By: /s/ Michael C. Nichols ------ ------------------------------------------ Name: Michael C. Nichols Title: Vice President and General Counsel 3 EXHIBIT INDEX Exhibit Number Description Page - -------------- ----------- ---- 99.1 Press Release dated January 16, 2001 5 4 EX-99 2 sy8k1699.txt PRESS RELEASE SYSCO Corporation NEWS RELEASE ------------ 1390 Enclave Parkway Houston, Texas 77077-2099 (281) 584-1390 FOR MORE INFORMATION CONTACT: Toni R. Spigelmyer Assistant Vice President, Investor and Media Relations (281) 584-1458 SYSCO Completes Acquisition of Freedman Companies Houston, January 16, 2001 -- SYSCO Corporation (NYSE: SYY), the leading foodservice marketing and distribution organization in North America, announced today it has completed the acquisition of certain operations of The Freedman Companies, a specialty meat supplier based in Houston, Texas. Terms of the deal were not disclosed. The Freedman acquisition is SYSCO's fifth specialty meat company purchase in less than two years and joins existing operations located in Atlanta (GA), Irvine (CA), Toledo (OH) and Washington, D.C. The Freedman Companies specialize in providing foodservice operators with custom-cut CERTIFIED ANGUS BEEF(TM) and USDA Prime and Choice beef, as well as an assortment of other protein products including pork, lamb, veal, poultry, cooked and smoked products, marinated fresh products, fajita meats and sausages. The companies that SYSCO acquired in the agreement generated combined sales of approximately $215 million for calendar year 2000. Two of the divisions purchased (Dallas and Houston) will continue to operate under the Freedman Food Service name and the remaining operations (Austin, Harlingen and San Antonio) will continue to operate under the name Texas Meat Purveyors. The new companies will report as subsidiaries of Freedman Meats, Inc., with Don Freedman continuing as president of the company and Ron Boatwright as executive vice president. 5 "The addition of the specialty meat operations of The Freedman Companies greatly enhances SYSCO's ability to provide precision cut specialty meat products throughout the southern United States," said Charles H. Cotros, SYSCO's chairman and chief executive officer. "The Freedman Companies have a well established reputation for providing excellent customer service, and their expertise in the custom-cutting process will benefit our marketing associate sales force immediately by augmenting the offerings they provide to our customers." SYSCO is the largest foodservice marketing and distribution organization in North America, providing food and related products and services to about 356,000 customers. The SYSCO distribution network, supported by more than 40,000 employees, currently extends throughout the entire contiguous United States, Alaska, the District of Columbia, Hawaii and portions of Canada. For fiscal 2000, which ended July 1, 2000, the company reported sales of $19.3 billion. Certain statements made herein are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They include statements regarding expected benefits of the Freedman acquisition on the Company's marketing associate sales force. These statements are based on management's and Freedman's current expectations and estimates; actual results may differ materially due to certain risks and uncertainties. For example, the Company's ability to achieve expected results may be affected by competitive price pressures, availability of supplies, work stoppages, successful integration of Freedman's operations by the Company, conditions in the economy, industry growth and internal factors, such as the ability to control expenses. For a discussion of additional factors affecting the Company, see the Company's Annual Report on Form 10-K for the fiscal year ended July 1, 2000 as filed with the Securities and Exchange Commission. 6 FORWARD-LOOKING STATEMENTS CERTAIN STATEMENTS MADE HEREIN ARE FORWARD-LOOKING STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THEY INCLUDE STATEMENTS REGARDING SALES MOMENTUM, EARNINGS GROWTH, CONTINUED STRENGTH OF SYSCO BRAND PRODUCTS, INDUSTRY GROWTH, THE AWAY-FROM-HOME EATING HABITS OF THE AMERICAN PUBLIC AND IMPROVED OPERATING EFFICIENCIES AND PRODUCTIVITY RELATED TO INFORMATION SYSTEMS. THESE STATEMENTS INVOLVE RISKS AND UNCERTAINTIES AND ARE BASED ON MANAGEMENT'S CURRENT EXPECTATIONS AND ESTIMATES; ACTUAL RESULTS MAY DIFFER MATERIALLY. THOSE RISKS AND UNCERTAINTIES THAT COULD IMPACT THESE STATEMENTS INCLUDE THE RISKS RELATING TO THE FOODSERVICE DISTRIBUTION INDUSTRY'S RELATIVELY LOW PROFIT MARGINS AND SENSITIVITY TO GENERAL ECONOMIC CONDITIONS; SYSCO'S LEVERAGE AND DEBT RISKS; THE SUCCESSFUL COMPLETION AND INTEGRATION OF ACQUISITIONS; THE POSSIBILITY THAT THE COMPANY'S INFORMATION SYSTEMS WILL NOT OPERATE AS ANTICIPATED AND THEREFORE NOT PROVIDE THE COMPANY WITH THE EXPECTED COMPETITIVE EDGE, THE RISK OF INTERRUPTION OF SUPPLIES DUE TO LACK OF LONG-TERM CONTRACTS, SEVERE WEATHER, WORK STOPPAGES OR OTHERWISE; INTERNAL FACTORS SUCH AS THE ABILITY TO CONTROL EXPENSES AND OTHER RISK FACTORS DETAILED IN SYSCO'S FORM 10-K FOR THE FISCAL YEAR ENDED JULY 1, 2000 FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. 7 -----END PRIVACY-ENHANCED MESSAGE-----