WASHINGTON, March 2, 2016 /PRNewswire-USNewswire/ -- On Thurs., March 3, the International Brotherhood of Teamsters will host a conference call to discuss the current state of US Foods' business and market, including recent corporate strategic decisions that threaten the company's growth and provide substantial revenue and market share opportunities for its competitors. The company's path also raises questions about the timing of its IPO.
"We are extremely concerned with the direction of this company since the collapse of the merger with Sysco," said Steve Vairma, Teamsters International Vice President and Warehouse Division Director. "The new folks in charge have gone down a path of poorly-planned facility consolidation with execution risks that could cost the company hundreds of millions of dollars in revenue and major market share losses to competitors including Sysco [NYSE: SYY], Performance Food Group [NYSE: PFG] and other regional players. Continued labor relations mismanagement intensifies the threat of expanded labor disputes, like recent picket line extensions that affected at least half US Foods' customers in Southern California and Arizona."
With more than 4,000 members at 29 of the company's 59 broadline facilities, and as representatives of members at key competitors, the Teamsters Union has a rich understanding of the foodservice industry and the potential effects on operations.
WHO: Steve P. Vairma, Teamsters International Vice President; Director, Warehouse Division
Alan Meyers, (moderator) Mergers & Acquisition Specialist, Teamsters Capital Strategies Department
WHAT: Investor, industry analysts and reporter call on US Foods
WHEN: 2 p.m. ET, Thurs., March 3
To register, please email: email@example.com
Kara Deniz, (202) 624-6911
SOURCE International Brotherhood of Teamsters