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Sysco goes niche with acquisition of luxury hospitality provider Gilchrist & Soames

Sysco goes niche with acquisition of luxury hospitality provider Gilchrist & Soames

Over the past year, one of the biggest overarching narratives in the worlds of hospitality and logistics was the story of Sysco attempting to merge with fellow food distribution giant U.S. Foods. Ultimately the marriage between the two giants was not to be, and the merger was called off at the end of June. Recently Sysco has entered into a much smaller and more niche acquisition, luxury hospitality amenity provider Gilchrist & Soames.

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This most recent acquisition was made through Sysco Guest Supply, a wholly owned subsidiary of Sysco that specializes in distributing supplies within the hospitality industry. Meanwhile London-based Gilchrist & Soames is a leader in its own right in the field of high end hotel goods for the hospitality market. According to Sysco Guest Supply, the addition of Gilchrist & Soames to its repertoire will increase the brand’s ability to adequately supply that higher end boutique market:

"With Gilchrist & Soames' strong reputation in the high-end personal care amenities category and its solid customer base in the hospitality segment, this acquisition expands Guest Supply's luxury personal care offerings for hotels, resorts and spas," said Paul Xenis, president and chief operating officer of Guest Supply. "By leveraging both companies' skillsets and expertise, we will bring a new level of service to our customers and further position our business for future growth."

 

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In the joint press release, Gilchrist & Soames also spoke about the benefits that it will gain from joining forces with a giant like Sysco:

"Joining Guest Supply will allow Gilchrist & Soames to leverage manufacturing facilities, supply chains, logistics, and product development and creative resources that will further benefit our customers and enhance our leadership position in the luxury hospitality segment," said Kathie De Voe, president and chief executive officer of Gilchrist & Soames.

 

According to the press release, Gilchrist & Soames will continue its manufacturing and operations out the UK, and the financial details of the acquisition were not disclosed.

[SOURCE: MarketWatch

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