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Sysco Forms Canada Subsidiary

By Restaurant Business Staff on May 28, 2002
Sysco Corp., Houston, has formed a wholly owned subsidiary, Sysco International, to consolidate its Canadian operations. The new subsidiary has announced it has sold $200 million worth of 10-year bonds with a 6.1-percent coupon, to pay off some of its commercial paper issued in Canada to finance the recent acquisition of all but the Pacific Div. of Serca Foodservice, Toronto, Ontario, a $1.44-billion (USD) broadliner.
Bruce Soltis is Sysco?s senior vice president of Canadian foodservice operations, and Gary Seaman, previously Serca?s ceo, is president of the new Sysco Serca Food Services operating company.

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