New Sysco Solutions Partner, Square, Brings Time-Saving, Easy-To-Use Technology to More Restaurants

Rhea-AI Summary

Sysco (NYSE:SYY), the world's largest food distributor, has announced a strategic partnership with Square to enhance restaurant operations through technology solutions. The collaboration, part of Sysco's Restaurant Solutions program, will provide restaurant customers with processing fee rebates and hardware credits when enrolling through Sysco.

The partnership aims to help restaurants optimize their business performance and increase profitability through Square's technology suite, which includes tools for online ordering, website design, and digital marketing. Sysco customers will receive additional benefits including hardware discounts and custom pricing as part of this initiative.

Positive

• New revenue stream potential through technology service offerings
• Strategic expansion of Sysco Restaurant Solutions program
• Value-added services for existing customer base through processing fee rebates

Negative

• None.

Insights

Tech Industry Analyst

This partnership marks a strategic move in the restaurant technology space. Square's integration into Sysco's ecosystem provides significant value through processing fee rebates and hardware credits, potentially reducing operational costs for restaurants. The collaboration addresses key pain points in restaurant operations by streamlining payment processing and business management. Square's comprehensive suite of tools, combined with Sysco's extensive distribution network, creates a powerful synergy that could drive digital transformation in the food service industry. The deal has particular significance given Sysco's position as the world's largest food distributor, offering Square access to a vast customer base of restaurants. This could accelerate Square's market penetration in the restaurant sector while providing Sysco with a competitive edge in their value-added services portfolio.

Market Research Analyst

The partnership strategically positions both companies in the rapidly evolving restaurant technology landscape. For Sysco, this adds a valuable tech component to their Restaurant Solutions program, enhancing their competitive position against other food distributors and potentially increasing customer retention. The processing fee rebates and hardware credits create a compelling value proposition that could drive adoption among Sysco's extensive customer base. For Square, this represents a significant distribution channel expansion opportunity, potentially accelerating their growth in the restaurant sector. The deal's structure, focusing on cost savings and operational efficiency, aligns well with current market demands as restaurants seek to optimize their operations and reduce expenses in a challenging economic environment.

Through the partnership, customers will receive a compelling processing fee rebate and hardware credits when enrolling through Sysco

HOUSTON, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Today, Sysco Corporation (NYSE:SYY), the world’s largest food distributor, announced a new partnership with Square to help restaurants of all sizes succeed and work smarter through powerful technology.

Sysco supports its restaurant customers with a variety of services and offerings through its Sysco Restaurant Solutions program. The program features best-in-class solutions partners, helping to connect restaurant customers with a variety of tools to help optimize business performance and increase profitability, in categories such as online ordering, website design, and digital marketing and loyalty.

“Sysco is committed to helping our customers grow and succeed through innovative programs. This includes finding the right technology for their business that will save them time and money,” said Neil Russell, Chief Administrative Officer at Sysco. “We’re proud to offer Square’s technology suite to Sysco’s customers across North America. As a benefit of enrolling through Sysco, our customers will receive a compelling processing fee rebate and more.”

Through the partnership with Square, Sysco customers will also receive benefits such as hardware discounts and custom pricing.

“Sysco is one of the most trusted players in the industry, and their commitment to helping restaurants navigate the variety of challenges operators face today makes them an ideal partner,” said Ming-Tai Huh, Head of Food and Beverage at Square. “Working together, we’re confident that we can help more operators find new efficiencies and grow their businesses with Square’s powerful suite of restaurant solutions.”

To sign up for Square through Sysco contact your sales consultant or visit https://www.solutions.sysco.com/square. You can also learn more about Square’s technology for food and beverage businesses here.

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 76,000 colleagues, the company operates 340 distribution facilities worldwide and serves approximately 730,000 customer locations. For fiscal year 2024 that ended June 29, 2024, the company generated sales of more than $78 billion. Information about our Sustainability program, including Sysco’s 2023 Sustainability Report and 2023 Diversity, Equity & Inclusion Report, can be found at www.sysco.com.

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.

For more information contact:

Media Contact
Matt Stewart                           
Matt.Stewart@sysco.com                 
281-584-1390

FAQ

What benefits do Sysco (SYY) customers get from the Square partnership?

Sysco customers receive processing fee rebates, hardware credits, hardware discounts, and custom pricing when enrolling in Square's services through Sysco.

What technology solutions does the Sysco-Square partnership offer restaurants?

The partnership offers solutions for online ordering, website design, digital marketing, loyalty programs, and other business optimization tools through Square's technology suite.

How can restaurants enroll in the Sysco-Square (SYY) partnership program?

Restaurants can enroll by contacting their Sysco sales consultant or visiting solutions.sysco.com/square.

What is the purpose of Sysco's (SYY) partnership with Square?

The partnership aims to help restaurants succeed and work smarter through technology, optimize business performance, and increase profitability through Square's suite of restaurant solutions.