REYES HOLDINGS TO SIGNIFICANTLY EXPAND ITS BROADLINE BUSINESS THROUGH ACQUISITION OF REINHART FOODSERVICE
ROSEMONT, IL December 21, 2004 – Reyes Holdings, L.L.C. announced an agreement to acquire Reinhart FoodService, Inc., the largest independently owned broadline foodservice distributor in the upper Midwest region of the United States. Reinhart FoodService, based in La Crosse, Wisconsin, services a diverse customer base from 12 distribution centers covering 28 states.
Reinhart FoodService will join the Reyes Holdings family of companies as a separate business unit. With the addition of Reinhart FoodService, Reyes Holdings’ revenues in 2005 are projected to exceed $7 billion and its employee base will grow to over 6,500.
Commenting on the proposed transaction, J. Christopher Reyes, Co-Chairman of Reyes Holdings, said, "We are truly excited to add Reinhart FoodService to our portfolio of companies and welcome its outstanding employees to the Reyes Holdings team. Reinhart FoodService maintains the same high quality reputation with its customers that we have earned with our customers in our beer distribution and food distribution businesses.”
Jude Reyes, Co-Chairman, added, "Reinhart FoodService is a very complementary business to our current base. We are very impressed with its executive team, and will support the company’s leadership as it continues to build the business in the vibrant food-away-from-home sector. This transaction positions Reyes Holdings as one of the preeminent restaurant foodservice companies in the United States and provides a platform for continued growth."
Reinhart FoodService will continue to be led by Mark Drazkowski, as Chief Executive Officer, along with his current management team. Mr. Drazkowski commented, "When the decision was made to sell the business, we were delighted that a quality company like Reyes Holdings was interested because we can move forward knowing our customers can expect the same first-rate service, our communities can continue to count on the company and our employees will have a great place to work.” He continued, “I would also like to take this opportunity to communicate the deep sense of gratitude that we all have for Marge Reinhart and the Reinhart family. Their 32 years of ownership, guidance and support have contributed greatly to our success. On behalf of all employees, we thank them for all that they have done to build and develop this company. We wish them great success in the future."
- Posted in: Press Releases
- December 21, 2004