U.S. food service distributor Sysco Corp. on Tuesday confirmed it has agreed to purchase 50 percent of Costa Rica’s Mayca Distribuidores S.A and three other affiliates at an undisclosed price.
According to the terms of the agreement, Sysco will own half of the stock in privately held Mayca.
Mayca, which has been in business since 1995, is a food distributor of some 5,000 products across Costa Rica, and in addition to its distribution business, has seven retail locations in San José, Cartago, Alajuela and Heredia.
Local operations also include a cold-storage company and a truck-leasing company.
At the end of 2013, Mayca employed 405 people, all of whom will remain in place at the close of the transaction, Mayca’s marketing manager, Sharon León, said.
The deal awaits regulatory revision by local authorities, but when completed will make Costa Rica the fifth country where Sysco will have a food service distribution company. Mayca will be their first location in Central America.