US Foods to acquire Save On Seafood, terms not disclosed
US Foods announced that it has agreed to acquire Save On Seafood, a seafood processor and distributor in St. Petersburg, Fla. with annual sales of more than $80M. Save On Seafood provides fresh and frozen seafood to restaurants and grocery stores throughout the Southeast United States. This acquisition will help strengthen US Foods' ability to provide seafood to its customers throughout the Southeast Region. US Foods will operate out of the Save On Seafood facility and expects to welcome all approximately 170 Save On employees to US Foods, including owner Gib Migliano as President of Save On Seafood, a US Foods subsidiary. Save On Seafood will be part of US Foods' Stock Yards organization. The transaction is expected to close on October 28. Terms of the acquisition were not disclosed.