RYKOFF-SEXTON ANNOUNCES JOINT VENTURE WITH ORGANIZACION IMPERIAL S.A. de C.V.
RYKOFF-SEXTON ANNOUNCES JOINT VENTURE WITH ORGANIZACION IMPERIAL S.A. de C.V. LOS ANGELES, March 24 /PRNewswire/ -- Rykoff-Sexton Inc. (NYSE: RYK) announced today it has formed a joint venture with Organizacion Imperial S.A. de C.V., a leading Mexican trading firm, to establish a distribution company based in Monterrey, Mexico. The new joint venture, Foodservice S.A. de C.V., will be operating under the name of Rykoff-Sexton, and will be operational by late spring and serve a territory encompassing northeastern Mexico. It will distribute Rykoff-Sexton branded products, as well as other merchandise suitable for the market to be served by the company. Products will include a wide range of processed foods, as well as foodservice equipment, supplies, paper and janitorial products. "This agreement represents our first international distribution joint venture project," said Roger W. Coleman, president and chief executive officer of Rykoff-Sexton. "Rykoff-Sexton and our joint venture partner, Organizacion Imperial, consider Mexico to be an outstanding opportunity for the establishment of a major foodservice distribution company." Organizacion Imperial is a subsidiary of Rexal S.A. de C.V., which is a primary manufacturer and distributor of baking powder and baking mixes in Mexico. Carlos Fernandez, formerly a senior executive with Rexal, will be general manager of the new venture. A new 30,000-square-foot warehouse and office building located in Monterrey, has been leased for this operation. Rykoff-Sexton Inc. is a leading manufacturer and distributor of food and related products for restaurants, institutions and membership warehouse stores nationwide. Manufacturing, processing and packaging operations are based in Los Angeles; Indianapolis, Ind.; Englewood, N.J.; Brooklyn, N.Y.; and Des Moines, Iowa. The company's 31 distribution centers are located throughout the United States. -0- 3/24/92 /CONTACT: Roger W. Coleman, president of Rykoff-Sexton, 213-622-4131, or Roger S. Pondel of Rifkind Pondel & Parsons, 310-207-9300, for Rykoff-Sexton/ (RYK) CO: Rykoff-Sexton; Organizacion Imperial S.A. de C.V. ST: California IN: FOD SU: JVN
AL -- LA020 -- 1137 03/24/92 13:58 EST
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|Date:||Mar 24, 1992|
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