Companies You’ve Never Heard Of: Sysco
Like Cargill, Sysco Corporation (NYSE:SYY) is an integral part of the American food chain, with a huge reach. Sysco has generated nearly $50 billion in revenue over the past year, putting it at No. 57 on the Fortune 500.
The company distributes food products of all kinds to restaurants, colleges, hotels and other “away from home” businesses such as nursing homes and even prisons.
Sysco is a relatively newer player, however, and its growth has been impressive and consistent. According to its website, it had just $115 million in revenue when SYY stock became public in 1970. It now does over 400 times that much business. So great is its market share, in fact, that in 2015 the U.S. government blocked its purchase of privately held US Foods.
The government argued, essentially, that Sysco would become too big. That’s quite an achievement for a company that less than 50 years ago was one of the smallest players in its market. But with U.S. population and food demand, and international opportunities (including a large presence in Ireland), Sysco still has room to grow.