000767 McDonald's & Suppliers Form Web NetworkJuly 31, 2000Chicago - Fast food giant McDonald's Corp. and three of the largest U.S. providers of food service products said they would form an Internet network aimed at managing the food service supply chain. Joining McDonald's in the venture, a business-to-business Web site called electronic Foodservice Network, will be Sysco Corp., the largest U.S. marketer and distributor of food service products; food processor Cargill Inc., the nation's largest privately-held company, and Tyson Foods Inc., the world's largest poultry producer. The network, which will be open to suppliers, distributors and operators of multiple food service outlets, is seen as a way for companies to cut costs by more efficiently managing the flow of food products to the marketplace, the companies said. Similar ventures have been started in other industries. “Tremendous opportunities exist in the food service supply chain to gain greater efficiencies and drive out costs,” Robert Lumpkins, Cargill vice chairman, said in a news release. The network was being formed with help from Accel-KKR, a venture formed by private equity firm Kohlberg Kravis Roberts & Co. and Accel Partners, a venture capital firm with expertise in Internet start-ups.
E-mail: sflanagan@sprintmail.com |
