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Sysco To Acquire Crossgar Foodservice

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Sysco Corp. (SYY: Quote) Tuesday said it signed an agreement to acquire Crossgar Foodservice, through its subsidiary, Pallas Foods. Financial details of the transaction were not disclosed.

The acquisition will expand Sysco's presence on the island of Ireland. It acquired Pallas Foods in 2009. Both Crossgar Foodservice and Pallas Foods will retain their existing brand identities, and management teams at the two companies will remain in place.

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by RTT Staff Writer

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With traders largely shrugging off the latest batch of upbeat U.S. economic data, stocks are turning in a lackluster performance in early trading on Tuesday. The major averages are showing only modest moves, lingering close to the unchanged line. Following the long, holiday weekend, stocks may move to the upside in early trading on Tuesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 15 points. The Swiss economy stalled in the second quarter as the improvement in household spending was insufficient to offset the weakness in exports and investment in construction. Gross domestic product remained flat from the first quarter, when it accelerated to 0.5 percent, the State Secretariat for Economic Affairs said Tuesday. Economists had expected GDP to rise 0.5 percent in the second quarter.
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