SYSCO CORP | 2013 | FY | 3


 

 

19. ACQUISITIONS

 

During fiscal 2013, in the aggregate, the company paid cash of $397.4 million for operations acquired during fiscal 2013 and for contingent consideration related to operations acquired in previous fiscal years.  During fiscal 2013, Sysco acquired for cash foodservice operations in Nassau, Bahamas; San Francisco, California; San Jose, California; Stockton, California; Ontario, Canada; Quebec, Canada; Orlando, Florida; Dublin, Ireland; St. Cloud, Minnesota; Co. Down, Northern Ireland; Greenville, Ohio and Houston, Texas.  The fiscal 2013 acquisitions were immaterial, individually and in the aggregate, to the consolidated financial statements. 

 

Certain acquisitions involve contingent consideration typically payable over periods up to five years only in the event that certain outstanding contingencies are resolvedAs of June 29, 2013, aggregate contingent consideration amounts outstanding relating to acquisitions was $108.0 million, of which $25.3 million could result in the recording of additional goodwill when paid and $68.9 million was recorded as earnout liabilities as of June 29, 2013.


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