Sysco Corporation, the giant Houston, Texas, company whose $2.2bn takeover of Brakes Group was recently completed, is asking shareholders to be patient in their expectations of the new acquisition.
In the US concern’s quarterly statement, the directors said: “Expanding into international markets presents unique challenges and risks, including compliance with local laws, regulations and customs. Expansion efforts, including the Brakes transaction, may not be successful.”
They added that any Sysco takeovers, including that of the UK and European foodservice wholesaler, “may not perform as expected, and we may not realise the anticipated benefits of our acquisitions.”
The directors said that the Brakes purchase “will require a significant commitment of time and company resources. Realising the anticipated benefits from the transaction may take longer than expected.”