Sysco’s Acquisition of The Coastal Companies

Cleary Gottlieb Steen & Hamilton represented Sysco Corporation in the transaction.

Sysco Corporation (Sysco) executed its acquisition of Coastal Group Intermediate Holdings, LLC and its subsidiaries The Coastal Companies. The closing of the transaction, which was announced on December 6, 2021, is subject to regulatory approvals and other customary closing conditions. The terms of the transaction were not announced.

The Coastal Companies is a leading fresh produce distributor and value-added processer. Founded in 1992 and based in Laurel, MD, The Coastal Companies generates annual revenue of approximately $600 million, and is comprised of three integrated businesses: Foodservice Distribution, Retail Distribution, and Value-Added Manufacturing.

Sysco is the global leader in selling, marketing, and distributing food products to restaurants, healthcare and educational facilities, lodging establishments, and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries.

The Cleary M&A team included partner Jim Langston (Picture), associates Kim Petrick and Kate Ginsbern, and law clerks Garrett Perconti and Martin Sasson. Partner Brian Byrne and associates Blair Kuykendall and Benjamin Hayes are advising on antitrust matters. Partner Audry Casusol and associate Suzannah Golick advised on employee benefits matters. Partner Daniel Ilan, associate Christine Song and law clerk Natalie Curry advised on intellectual property and data privacy matters. Partner Meyer Fedida and associates Anthony Yanez and JinSol Lee advised on tax matters. Partner Amy Shapiro and associates Yoni Hassin and Chris Plante advised on financing matters. Counsels Richard Bidstrup and Beau Sterling and associate Madison Bush advised on environmental matters. Senior attorney Josh Panas and senior real estate staff attorney David Groman advised on real estate matters. Senior attorney Jim Corsiglia advised on anticorruption compliance.

Involved fees earner: Richard Bidstrup – Cleary Gottlieb Steen & Hamilton; Madison Bush – Cleary Gottlieb Steen & Hamilton; Brian Byrne – Cleary Gottlieb Steen & Hamilton; Audry Casusol – Cleary Gottlieb Steen & Hamilton; James Corsiglia – Cleary Gottlieb Steen & Hamilton; Meyer Fedida – Cleary Gottlieb Steen & Hamilton; Kate Ginsbern – Cleary Gottlieb Steen & Hamilton; Suzannah Golick – Cleary Gottlieb Steen & Hamilton; David Groman – Cleary Gottlieb Steen & Hamilton; Yonatan Hassin – Cleary Gottlieb Steen & Hamilton; Benjamin Hayes – Cleary Gottlieb Steen & Hamilton; Daniel Ilan – Cleary Gottlieb Steen & Hamilton; Blair Kuykendall – Cleary Gottlieb Steen & Hamilton; James Langston – Cleary Gottlieb Steen & Hamilton; JinSol Lee – Cleary Gottlieb Steen & Hamilton; Joshua Panas – Cleary Gottlieb Steen & Hamilton; Kimberly Petrick – Cleary Gottlieb Steen & Hamilton; Christopher Plante – Cleary Gottlieb Steen & Hamilton; Amy Shapiro – Cleary Gottlieb Steen & Hamilton; Christine Song – Cleary Gottlieb Steen & Hamilton; Beau Sterling – Cleary Gottlieb Steen & Hamilton; Anthony Yanez – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Sysco Corporation;