Performance Food Group Co.
Performance Food Group Completes Acquisition of Cheney Bros, Inc.
Summary
Performance Food Group Company (NYSE:PFGC) has completed the acquisition of Cheney Bros, Inc. for $2.095 billion in cash, creating a stronger presence in the Southeast region and providing additional distribution capacity. The acquisition is expected to generate approximately $50 million of annual run-rate cost synergies by the third full fiscal year following the closing. A press release announcing the completion of the acquisition and updating the fiscal year 2025 outlook was issued on the same day. Financial statements and exhibits will be filed later as an amendment.
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Exhibits (1)
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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.
Official SEC Documents
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