Teamsters Caution FTC Sysco-US Foods Merger Could Harm Competition, Consumers, Workers

Teamsters Caution FTC Sysco-US Foods Merger Could Harm Competition, Consumers,
                                   Workers

Teamsters Representatives Meet With Federal Agency Investigating Anti-Trust
Issues in Merger of Top Two U.S. Foodservice Companies

PR Newswire

WASHINGTON, June 5, 2014

WASHINGTON, June 5, 2014 /PRNewswire-USNewswire/ -- On Wednesday, the
Teamsters Union cautioned the Federal Trade Commission staff and state
attorneys general investigating Sysco's proposed acquisition of US Foods for
antitrust issues that a merger of the top two U.S. foodservice providers could
limit competition and negatively affect consumers, food suppliers, small
business owners and government agencies.

International Brotherhood Of Teamsters

Teamsters represent more than 7,600 Sysco warehouse workers and drivers and
nearly 4,000 at US Foods covering 70 warehouses in the U.S.

"Our members are the daily connection between these companies and their
customers," said Teamsters General President Jim Hoffa. "They know the
structure and operations of the businesses firsthand and provide a perspective
vital to any examination of the effects a merger would have on this industry."

Sysco's $8.2 billion buyout ($3.5 billion cash plus $4.7 billion in debt) is
currently under review by the FTC and a multi-state committee of attorneys
general, tasked with examining the effects on competition.

Sysco and US Foods are the two largest providers of foodservice supplies in an
industry built on contracts with not only restaurants, but also multimillion
dollar federal and state deals with the military, schools and universities,
prisons and other agencies as well as airports, hospitals and hotels.

"The costs of this merger will be borne not only by people who want to go out
for dinner with their families, but by taxpayers who fund public institutions,
travelers, elderly patients in nursing homes and the employees. It deserves
careful and deliberate scrutiny," Hoffa said.

Founded in 1903, the International Brotherhood of Teamsters represents more
than 1.4 million hardworking men and women in the United States, Canada and
Puerto Rico. Visit www.teamster.org for more information. Follow us on
Twitter @TeamsterPower.

Logo - http://photos.prnewswire.com/prnh/20100127/IBTLOGO

SOURCE International Brotherhood of Teamsters

Website: http://www.teamster.org
Contact: Galen Munroe (202) 624-6911, gmunroe@teamster.org
 
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