Performance Food Group Co.
Performance Food Group Announces $1.0 Billion Senior Notes Offering and Cheney Brothers Acquisition
Summary
Performance Food Group Company announced its intention to offer $1.0 billion of Senior Notes due 2032 to finance the acquisition of Cheney Bros., Inc. The Company also announced the acquisition of José Santiago, Inc. completed on July 2, 2024. The Notes offering is subject to market and other conditions and is expected to close prior to or concurrently with the Cheney Brothers Acquisition. The financials of Cheney Bros. and José Santiago are provided with Adjusted EBITDA figures and net income details for the twelve months ended May 31, 2024, and June 30, 2024, respectively.
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About Performance Food Group Co.
Performance Food Group Co. is a leading foodservice distribution company that supplies a vast array of food products, beverages, and related goods to a diverse array of customers across the United States. Its primary function is to deliver high-quality food supplies and logistics solutions to restaurants, healthcare facilities, cafeterias, and hospitality venues. With an extensive portfolio of top-tier brands and private label offerings, Performance Food Group Co. plays a crucial role in the supply chain of the foodservice industry. Key features of the company include its expansive distribution network, innovative technology to enhance supply chain efficiencies, and a strong focus on customer service. The company impacts sectors such as dining, catering, and institutional meal services, ensuring that clients receive timely and reliable product deliveries. Performance Food Group Co.'s market significance is underscored by its ability to adapt to consumer preferences and industry demands, making it a vital component of the food distribution landscape. The company's operations promote seamless transitions of food products from manufacturers to end-users, thus supporting the sustainability and growth of the foodservice market.
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