Blue Star Foods Signed 2-Year Bid Award Purchase Agreement With Sysco Corporation
Portfolio Pulse from Benzinga Newsdesk
Blue Star Foods Corp. (BSFC) has entered into a 2-year bid award purchase agreement with Sysco Corporation (SYY) to supply its sustainable seafood brands. The agreement is effective immediately and includes Blue Star's brands such as Blue Star, Pacifika, and Good Stuff. CEO John Keeler expressed confidence in gaining market share in 2024 due to the partnership and Sysco's strategic sourcing capabilities.
November 13, 2023 | 2:18 pm
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NEUTRAL IMPACT
Sysco Corporation has entered into a 2-year agreement with Blue Star Foods to purchase sustainable seafood, enhancing its responsible sourcing practices.
While the deal with Blue Star Foods supports Sysco's sustainability goals and may enrich its product offerings, the impact on Sysco's overall financial performance is likely to be moderate given the size and diversity of Sysco's operations.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Blue Star Foods has secured a 2-year purchase agreement with Sysco, which may increase its market share and revenue in the sustainable seafood category.
The agreement with Sysco, a foodservice industry leader, is likely to have a positive impact on Blue Star Foods' sales and market share, especially given the CEO's confidence in the partnership's potential. The deal aligns with the company's ESG focus and could attract positive investor sentiment.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90