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Investigator

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Prophet/Sage
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Reply with quote  #17 
This portion of the press release says it all. You have posters like Wilson Tennis along with the wind bags screaming about the Union's and their so called corruption and right in the middle of the written press release you find this nifty paragraph.


QUOTE

Goldman Sachs, Morgan Stanley and J.P. Morgan served as the underwriters for the IPO and BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities, Wells Fargo Securities, KKR, BMO Capital Markets, Guggenheim Securities, ING, Rabo Securities and Natixis were co-managers



."Hey Istigatgor if you want to talk about Wall Street go somewhere else, this is a foodservice forum".

You guys always lose because you're stupid, real stupid.
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LinesInTheSand

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Reply with quote  #18 
yeah, real stupid say's the guy who just misspelled his own name LOL.  

(Hey Istigatgor if you want to talk about Wall Street go somewhere else, this is a foodservice forum)

Wilson didn't type it like this either!!

I told you never go full retard, but you keep doing it.
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Investigator

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Reply with quote  #19 
Quote:
Originally Posted by LinesInTheSand
yeah, real stupid say's the guy who just misspelled his own name LOL.  

(Hey Istigatgor if you want to talk about Wall Street go somewhere else, this is a foodservice forum)

Wilson didn't type it like this either!!

I told you never go full retard, but you keep doing it.


You never know what you're talking about do you? Another wrong turn by the genius and Union watch dog.
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Drew2569

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Reply with quote  #20 

ROSEMONT, Ill.--(BUSINESS WIRE)--

 

US Foods today announced it has agreed to acquire Freshway Foods, a fresh fruit and vegetable processor, repacker and distributor serving customers throughout the eastern half of the United States

Established in 1988, Freshway Foods is owned by brothers Phil and Frank Gilardi and is based in Sidney, Ohio. The company has built a strong reputation for providing value-added fresh cut produce that includes the cutting, cleaning, chopping and packaging of raw produce resulting in a product that can be customized to meet any customer’s preferences and delivered ready for immediate use. In addition, Freshway Foods has established a robust farm-to-fork food safety approach that ensures food safety compliance from the grower through consumption.

US Foods will be keeping the Freshway Foods building open and is pleased to welcome its employees to US Foods.

“We are very excited about this new partnership with US Foods,” said Phil Gilardi and Frank Gilardi, the two owners of Freshway Foods. “Since we started this business, our success has been built upon our commitment to our associates and our customers and we are looking forward to the next chapter for Freshway Foods as part of a well established and reputable company like US Foods.”

The transaction is expected to close on June 10, 2016. Terms of the transaction were not disclosed.

About US Foods

US Foods, Inc. is a large foodservice distributor serving chefs and foodservice operators across the country. Its customers include independent and multi-unit restaurants, healthcare and hospitality entities, government and educational institutions. The company employs approximately 25,000 people in 61 locations nationwide. US Foods is headquartered in Rosemont, Ill.

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DMT

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Reply with quote  #21 
USF La Mirada has announced it's first wave of lay offs due to the loss of customers due to the strike! Warehouse yesterday, drivers tomorrow!
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LinesInTheSand

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Reply with quote  #22 
Quote:
Originally Posted by Drew2569

ROSEMONT, Ill.--(BUSINESS WIRE)--

 

US Foods today announced it has agreed to acquire Freshway Foods, a fresh fruit and vegetable processor, repacker and distributor serving customers throughout the eastern half of the United States

Established in 1988, Freshway Foods is owned by brothers Phil and Frank Gilardi and is based in Sidney, Ohio. The company has built a strong reputation for providing value-added fresh cut produce that includes the cutting, cleaning, chopping and packaging of raw produce resulting in a product that can be customized to meet any customer’s preferences and delivered ready for immediate use. In addition, Freshway Foods has established a robust farm-to-fork food safety approach that ensures food safety compliance from the grower through consumption.

US Foods will be keeping the Freshway Foods building open and is pleased to welcome its employees to US Foods.

“We are very excited about this new partnership with US Foods,” said Phil Gilardi and Frank Gilardi, the two owners of Freshway Foods. “Since we started this business, our success has been built upon our commitment to our associates and our customers and we are looking forward to the next chapter for Freshway Foods as part of a well established and reputable company like US Foods.”

The transaction is expected to close on June 10, 2016. Terms of the transaction were not disclosed.

About US Foods

US Foods, Inc. is a large foodservice distributor serving chefs and foodservice operators across the country. Its customers include independent and multi-unit restaurants, healthcare and hospitality entities, government and educational institutions. The company employs approximately 25,000 people in 61 locations nationwide. US Foods is headquartered in Rosemont, Ill.



So someone help me understand.  This company is allegedly hemorrhaging money with massive debt, yet they still are buying companies left and right!

Early projections have the IPO generating 990 million, but when your 5 Billion in debt, how are they still doing this?

Last time I checked US Foods wasn't the US Government with unlimited cash printing capabilities. 


What is true and what is BS?






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laser

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Reply with quote  #23 
They are offering the stock to the public, who will either buy it or not. Not really complicated. I am not arguing for or against. Honestly, this looks like KKR/CDR intend to exit the company, and they believe this is the best way left for them to do this. We will all know if the plan has a successful or unsuccessful beginning next Thursday.
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SoCalFoodDude

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Reply with quote  #24 
KKR/CD&R will still be around. They will have least two seats on the new board of directors.

What is their strategy if the IPO tanks? Will they start selling off divisions to local or regional distributors?
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DMT

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Reply with quote  #25 
Negotiations have failed in Phoenix and Corona. The company is playing hardball. A strike and extended picket is imminent. If your in sales you can cancel Memorial Weekend plans as you may be delivering the product you sell? $50 bucks says derrick breaks the already weakened and divided 848 drivers union! Resident and Disney drivers will still work per "side agreement"!! Union stewards could care less because they are getting their 40 hours from the union. This local is a shadow of it's former self. Even though Jim Santangelo can't remember this morning much less why he was ousted 7 years ago, he would still do a better job than the knuckleheads running 848 at the moment...
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broadliner

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Reply with quote  #26 
DMT, I was under the impression that the Corona people had a contract as of 5/3. Am I wrong?

Arizona is a "right-to-work" state, so their issues are different.

I think if the Teamsters try to strike on Memorial Day, most of the La Mirada crew will cross the line. Most of the drivers just met the truck outside the yard and made deliveries.
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DMT

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Reply with quote  #27 
@ Broadliner, No Corona has been w/o a contract since Sept. Their talks fell apart on thursday evening and now more than likely they will picket LM again if Phoenix doesn't beat them to it. Denver was struck and so was Seattle but by the Baltimore crew. Many drivers, warehouse and office personnel are considering withdrawing from the union to use that loophole to continue working! Then re-join when the strike is over or the union stranglehold is broke. They are nervous as hell. Those cushy $125K jobs are at risk! The 2 local unions have not been 100% honest with it's members and now we can't even get a straight answer if the 7 resident yards and disney will be opened and handled by 848 drivers?
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broadliner

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Reply with quote  #28 
If the Teamsters show up again, it could be the end of the line for USF. Customers won't put up with this a third time.

It will also kill the IPO, and that will really be it.
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DMT

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Reply with quote  #29 
Many believe the company will take a loss on customers if it means breaking the union! But non-union doesn't mean cheaper prices for the customer or better %'s for the sales rep. I'm hearing that Shamrock is hosing their employees & customers from this boom in business!!
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SoCalFoodDude

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Reply with quote  #30 
Sysco and Shamrock had a lot of fun "helping out" our customers during the Mother's Day strike. I'm sure they made a ton of money because they had these customers over a barrel. The best thing was that they were running out of product trying to "help out" and couldn't service their regular customers.

I heard Restaurant Depot and Jetro looked like Walmart on Black Friday.

I don't care what the company thinks. If I lose customers, I lose income! I hope there is marketing money saved up to subsidize everybody.
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SoCalFoodDude

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Reply with quote  #31 
Vet20, losing customers will give USF an excuse to put everyone on salary plus a bonus. They've already cut Points of Focus with their new formula. I lost $300+ on the last redemption.

I hated having to tell customers to go elsewhere for Mother's Day. I lost at least $30,000 that week. Now I have to worry about Sysco, Shamrock and every rinky-dink mom-and-pop sniffing around my customers.

This is going to be such a fun summer. [mad]
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LinesInTheSand

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Reply with quote  #32 
SOCAL I think your on to something here.  If the income of the salesman continues to suffer because of this strike sales will be more likely to accept a salary plus bonus option.  They will tell you it is protected income from strikes and such...

Yes US Foods will lose some customers but in the end they could make up the difference easily by shaving payroll on new and existing Salesman.

It also could be a good way for them to create better incentives for Scoop and dotcom.
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