Performance Food Group

Last updated

Performance Food Group Company
Company type Public
Founded1885;141 years ago (1885)
FounderRobert Sledd  OOjs UI icon edit-ltr-progressive.svg
Headquarters Richmond, Virginia, U.S.
Key people
George Holm (chairman, president & CEO)
James Hope (EVP & CFO)
Products Prepackaged meals and frozen foods, fresh produce
Services Foodservice distributor
RevenueIncrease2.svg US$63.298 billion (2025)
Decrease2.svg US$816 million (2025)
Decrease2.svg US$340 million (2025)
Total assets Increase2.svg US$17.881 billion (2025)
Total equity Increase2.svg US$4.472 billion (2025)
Number of employees
43,000 (2025)
Website www.pfgc.com
Footnotes /references
[1]

Performance Food Group Company (PFG) is an American food service distributor. It is the third-largest food service distributor in the U.S., after Sysco and US Foods. The company supplies 250,000 products to 300,000 locations including independent restaurants, chain restaurants, healthcare, hospitality, and educational institutions. It has 155 distribution centers. [1]

Contents

It has three divisions: Foodservice, which distributes food products to restaurants (53% of 2025 revenues); Convenience, which distributes food products to convenience and grocery stores (39% of 2025 revenues); and Specialty, which distributes candy, snacks, and beverages (8% of 2025 revenues). [1]

The company is ranked 80th on the Fortune 500 [2] and 1129th on the Forbes Global 2000. [3]

History

The company traces its roots to a business founded by James Capers in 1885 in Richmond, Virginia. It later became Pocahontas Foods. [4]

The company became Performance Food Group in 1987. [5]

In 2008, the company was acquired by investment funds managed by Wellspring Capital Management and Blackstone Inc. for $1.3 billion and it was merged with Vistar and Roma Foods. [6]

In October 2015, the company became a public company via an initial public offering. [7]

In May 2017, Blackstone sold its remaining stake in the company. [8]

Acquisitions

#YearCompanyDescriptionRef(s).
1July 2001Springfield Foodservice Corp.Price was $85 million [9] [10]
2April 2019 Eby-Brown [11]
3July 2019Reinhart FoodservicePrice was $2 billion; seller was Reyes Holdings [12]
4September 2021 Core-Mark Price was $2.5 billion [13]
5October 2024Cheney BrothersPrice was $2.1 billion in cash [14]

References

  1. 1 2 3 "Performance Food Group Company 2025 Form 10-K Annual Report". U.S. Securities and Exchange Commission. August 13, 2025.
  2. ↑ "Fortune 500: Performance Food Group". Fortune.
  3. ↑ "Forbes: Performance Food Group". Forbes.
  4. ↑ "ID NEWS: Pocahontas announces umbrella name, also, new group". Restaurant Business. March 21, 2003.
  5. ↑ "Going to Extremes" (PDF). U.S. Securities and Exchange Commission. April 29, 2002.
  6. ↑ "Equity Firms Acquiring Food Supplier" . The New York Times . Bloomberg News. January 19, 2008.
  7. ↑ Maze, Jonathan (October 1, 2015). "Performance Food Group has a modest IPO". Nation's Restaurant News .
  8. ↑ "Blackstone Successfully Exits Performance Food Group Company with $388 Million Secondary Offering". Simpson Thacher & Bartlett . May 18, 2017.
  9. ↑ "COMPANY NEWS; PERFORMANCE FOOD IS BUYING Springfield Foodservice" . The New York Times . Bloomberg News. July 27, 2001.
  10. ↑ "Performance Food to buy Springfield Foodservice for $85 million" . American City Business Journals . July 23, 2001.
  11. ↑ "Performance Food Group Company Reports Third-Quarter and First-Nine Months Fiscal 2019 Results" (Press release). U.S. Securities and Exchange Commission. May 8, 2019.
  12. ↑ Forde, Morgan (July 2, 2019). "Distributor Performance Food Group to acquire Reinhart Foodservice for $2B". Industry Dive .
  13. ↑ Paramasivam, Praveen (May 18, 2021). "Performance Food Group to buy peer Core-Mark in $2.5 billion deal". Reuters .
  14. ↑ "Performance Food to buy foodservice distributor Cheney Bros for $2.1 bln". Reuters . August 14, 2024.
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