Sysco To Acquire 50% Stake In Mayca Distribuidores Of Costa Rica

(RTTNews) - North American foodservice distributor Sysco Corp (SYY) said Tuesday it has agreed to purchase 50 percent of Mayca Distribuidores S.A of Costa Rica and Mayca's three other affiliates for an undisclosed price. As per the terms of the deal, Sysco will own one-half of the stock in privately held Mayca.

Mayca, which has been in business since 1995, is a food distributor across Costa Rica. In addition to its distribution business, Mayca has a retail cash-and-carry affiliate with seven locations, a cold-storage company and a truck-leasing company.

At year-end 2013, Mayca had 405 employees, all of whom will remain in place at the closing of the transaction.

Upon closing of the transaction, this will mark the fifth country outside the United States where Sysco will have a foodservice distribution company.