US Foods to acquire Save On Seafood

US Foods agrees to acquire Save On Seafood, a seafood processor and distributor in St. Petersburg, Florida.

With annual sales of $80m, Save On Seafood offers fresh and frozen seafood to restaurants and grocery stores throughout the southeasten region in the US. The acquistion will boost US Foods' seafood distribution capabilities in the area.

Financial details of the transaction have not been divulged by either company.

US Foods Stock Yards president David Norton said: “Seafood sales continue to rise throughout the south-east, and with Save On Seafood, we are able to expand our fresh and frozen seafood offerings to our customers in these markets.

“With over 30 years in business, the great team at Save On has built a reputation for exceptional customer service, consistency, standards of operations and safety.”

Both companies anticipate that the transaction will be completed by the end of this month.

US Foods will operate out of the Save On Seafood facility and expects to retain all 170 Save On employees.

Upon completion of the transaction, Save On Seafood will be part of US Foods’ Stock Yards organisation.