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Systems Services of America history
Systems Services of America company history timeline
When Service America was established in 1960 as United Servomation, there was no "contract food service segment" in existence.
The vending industry had achieved $2.5 billion in annual sales by 1960, and with statistics showing that Americans ate one in four meals away from home, vendors and stockbrokers foresaw a fine future for vending.
Servomation also entered the retail food industry in 1963, opening its Singing Waters restaurant in Philadelphia, PA, and two roadside Mr.
By 1965 Servomation was a $100 million public company with over 70,000 vending units in 29 states coast-to-coast.
In 1966 Servomation acquired Minnesota Acme Vending (Minneapolis), which increased the company's annual volume by $1 million.
His career began in 1967 on the rough docksides of the Port of Seattle.
The 50 percent increase was difficult to implement because of customer resistance and the overhaul of thousands of machines; but with sales of 6.2 billion cups of hot coffee and soft drinks (31 percent of vending machine sales) in 1967, Servomation welcomed the change.
These gains were based primarily on acquisitions that opened expanding markets and a welcome industry-wide price boost in 1968.
By 1971 Servomation had major contracts with The Forum in Los Angeles, San Diego Stadium and Sports Arena, Del Mar Thoroughbred Club, Ontario Motor Speedway, and other recreational facilities.
By 1973 hospital, school, and college business provided 21 percent of the company's sales.
In 1973 the company also made an important change in its image by changing the names of all its operations, which had formerly kept the name they had when acquired, to Servomation Corporation.
By September 1978 the company merged with City Investing Co.'s GDV Inc. division, an acquisition of $188.7 million.
Led by Chief Executive Officer Carr Newcomer, a group of frustrated Service America senior managers teamed up with the New York investment banking firm of Morgan Lewis Githens and Ahn, Inc. (MLGH&A), and Merrill Lynch Interfunding to purchase Service America from Allegheny Beverage in 1987.
In October 1990 the company began a two-year struggle to restructure nearly $400 million in debt.
In 2010, with the passing of SGA’s founder Thomas J. Stewart, his son, Slade, took over the business and its Associates, as his father had planned.
Food Services of America’s acquisition of Yancey’s Food Service of Loveland, Colorado in 2012.
SSA Phoenix built a new distribution center in 2012.
In 2013, Amerifresh opened its McAllen, Texas, location providing a major access point to the important Mexico agricultural market, giving Midwestern and Eastern customers an additional source of timely, fresh produce during the growing season.
SSA Southern California doubled its capacity in a 2013 move to a new facility in Fontana, strategically situated near the region’s largest east-west artery allowing for easier, more cost effective delivery to all of southern California and southern Nevada.
GAMPAC opened a new Indianapolis office in 2015 to provide better, real-time transportation services for customers in the Eastern and Midwest time zones.
A major expansion of the FSA Fargo distribution center was completed in 2016.
Ultimately SGA took the five Food Group Companies to market to find the right buyer, one that would value the companies the way Slade and his team valued them, which ultimately led to the announcement of a transaction with United States Foods on July 28th of 2018.
In 2018, SSA Northern California completed an expanded, all new, state-of-the-art distribution center in Tracy, Calif.
13, 2019, SGA announced the close of the sale of its food-related subsidiaries to US Foods (NYSE: USFD). US Foods, the second-largest foodservice distributor in the nation, acquired five SGA subsidiaries:
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Systems Services of America competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Edward Don & Company | 1921 | $1.2B | 1,074 | - |
| Daily Printing | 1950 | $18.8M | 50 | 2 |
| Rsr Corporation | 1970 | $140.0M | 640 | 3 |
| Daycon Products Co. | 1942 | $350,000 | 10 | - |
| MDI | 1931 | $590.0M | 3,000 | 13 |
| DPI Specialty Foods | 1963 | $1.4B | 3,000 | - |
| Colony Brands | 1926 | $280.0M | 1,254 | 74 |
| Boar's Head Brand | - | $6.0M | 8 | - |
| BWI Companies | 1958 | $190.0M | 279 | 3 |
| Goya Foods | 1936 | $1.5B | 4,000 | - |
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