Sysco Donates $1 Million Dollars to Feeding America®

Rhea-AI Summary

Sysco Corporation (NYSE: SYY) announced a $1 million donation to Feeding America to support local food banks through its Nourishing Neighbors program. This donation, aimed at combating hunger exacerbated by inflation and supply chain issues, will assist 42 food banks, providing access to 10 million meals. Since 2018, Sysco's program has contributed over $12 million to charity, with a goal of generating $500 million in community aid by Fiscal Year 2025. In FY 2022, Sysco donated over 12 million pounds of food, equating to 10 million meals, to Feeding America.

Positive

• Donation of $1 million to Feeding America, aiding 42 food banks.
• Provision of 10 million meals during heightened hunger crisis.
• Commitment to $500 million charitable giving goal by Fiscal Year 2025.

Negative

• Hunger crisis worsening due to inflation and supply chain issues.

HOUSTON, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY), the leading global foodservice distribution company, announced it recently donated $1 million to Feeding America^® to support local food banks in communities where Sysco operates.

Sysco’s donation will be distributed to 42 food banks across the U.S. as part of their signature Nourishing Neighbors^® program where a portion of the proceeds from each Sysco branded case sold in local communities is donated back to charitable organizations in those communities.

“As a global leader in foodservice distribution, we have a responsibility and unique opportunity to give back to the communities that have supported us through our Nourishing Neighbors program. We are honored to make this donation to our longtime partner, Feeding America, to help fight hunger in the communities where we live and work,” says Neil Russell, Sysco’s Senior Vice President, Corporate Affairs and Chief Communications Officer.

Every dollar donated to Feeding America helps provide access to 10 meals*. Sysco’s donation will help provide 10 million meals* to people in need, at a time when the hunger crisis continues to worsen due to the impacts of inflation and other supply chain issues.

“At a time when we are seeing pandemic relief efforts wind down, record increases in food and gas prices are bringing more people to food banks and food pantries for help,” said Erika Thiem, Chief Supply Chain Officer at Feeding America. “Right now, hunger relief programs need more support, not less. We are grateful for Sysco’s donation which will support efforts to expand equitable access to healthy, nutritious food in communities that need it most.”

Since its inception in 2018, Sysco’s Nourishing Neighbors program has contributed over $12 million to charitable organizations. “We know the need is great, which is why we have committed to a charitable giving goal of generating $500 million worth of good in our global communities by Fiscal Year 2025, through product donations, cash contributions and volunteer service,” said Russell.

In Fiscal Year 2022, Sysco also donated over 12 million pounds of food to Feeding America food banks which equates to over 10 million meals.

*$1 helps to provide at least ten meals secured by Feeding America® on behalf of local member food banks.

About Sysco
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 58,000 associates, the company operates 343 distribution facilities worldwide and serves more than 650,000 customer locations. For fiscal 2021 that ended July 3, 2021, the company generated sales of more than $51 billion. Information about our CSR program, including Sysco’s 2021 Corporate Social Responsibility Report, can be found at www.sysco.com/csr2021report.

For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoFoods. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at investors.sysco.com, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.

Media contact:
Shannon Mutschler
281-584-4059
Shannon.mutschler@sysco.com

FAQ

What is the recent donation made by Sysco Corporation?

Sysco Corporation donated $1 million to Feeding America to support local food banks.

How many meals will Sysco's donation provide?

The $1 million donation will provide access to 10 million meals.

What program is associated with Sysco's charitable donations?

The donations are part of Sysco's Nourishing Neighbors program.

What is Sysco's future charitable giving goal?

Sysco aims to generate $500 million in community aid by Fiscal Year 2025.

How much food did Sysco donate to Feeding America in FY 2022?

In FY 2022, Sysco donated over 12 million pounds of food to Feeding America.