Sysco Corporation (SYY) has recently launched a dual-language microsite "Sobremesa" (www.sysco.com/sobremesa) to better serve the Hispanic population, the fastest-growing ethnic population in the U.S.
Sobremesa is a Spanish term and describes the essential time spent after a meal conversing with family and friends. The site will have insights on how to reach Latin Millennials, multi-regional recipes, snacking trends among Hispanics, new menu ideas and much more. It is expected to address Hispanic customers' evolving needs and help improve traffic.
The U.S. Hispanic population (Spanish-speaking people, especially of Latin American descent) has been growing steadily and has increased nearly 45% in the past decade. Hispanics now represents approximately 18% of the U.S. population, and have an estimated consumer buying power of $1.6 trillion.
Sysco, being North America’s leading foodservice distribution company, needs to focus on this growing segment as they influence nearly all aspects of the foodservice industry. The launch of this site would help the company to engage Hispanic foodservice operators and help them to improve and grow their business.
Sysco has been rapidly expanding in Latin America, owing to potential opportunities in the region. Sysco first invested in the region in Jun 2014, with the acquisition of a 50% ownership stake in Mayca Distribuidores, S.A., a leading foodservice distributor in Costa Rica.
Then in Nov 2014, Sysco inked an agreement to buy 50% of Pacific Star Foodservice, which is expected to help the company expand in Mexico where Pacific Star is a leading distributor. Apart from Latin America, Sysco has expanded in Canada, Ireland, Northern Ireland and the Bahamas.
Sysco has a Zacks Rank #3 (Hold).
Some better-ranked food companies in the industry include Aramark Holding Inc. (ARMK), Keurig Green Mountain, Inc. (GMCR) and United Natural Foods Inc. (UNFI). While Aramark Holding sports a Zacks Rank #1 (Strong Buy), Keurig Green Mountain and United Natural hold a Zacks Rank #2 (Buy).
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