PFG - M&A Summary and Business Overview

DistributionCompany

PFG M&A Summary

PFG has acquired 9 companies, including 5 in the last 5 years. A total of 3 acquisitions came from private equity firms. It has also divested 1 asset.

PFG’s largest acquisition to date was in 2021, when it acquired Core-Mark Holding Company for $2.5B. It’s largest disclosed sale occurred in 2005, when it sold Fresh Express to Chiquita Brands International Sàrl for $855M. PFG has acquired in 7 different US states. The Company’s most targeted sectors include distribution (50%) and food (50%).

PFG Business Overview

Where is PFG headquartered?

PFG is headquartered in Richmond, Virginia.

What is PFG’s revenue?

PFG disclosed revenue of 58,281M USD for 2024 and 57,255M USD for 2023.

How many employees does PFG have?

PFG has 36,630 employees.

What sector is PFG in?

PFG is a distribution company.

When was PFG founded?

PFG was founded in 1885.

M&A Summary

  • M&A Total Activity9
    • M&A Buy Activity8
    • M&A Sell Activity1
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 4
  • M&A Advisors 4

PFG

Performance Food Group, Inc.

12500 West Creek Parkway,
Richmond, Virginia 23238
United States,
(804) 484-7700
www.pfgc.com

PFG is a distributor of food products and snacks. PFG delivers food and food-related products to more than 130,000 independent and national chain restaurants, quick-service eateries, pizzerias, theaters, schools, hotels, healthcare facilities and other institutions across the United States. PFG was founded in 1885 and is based in Richmond, Virginia.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 5 - 1 - 1 1 8
vol $3.4B $2.5B $2.1B $8.0B
Sell (0.0/yr) # 1 - - - - - 1
vol $855M $855M
  9

Most Recent M&A

Company Date Value Type
Cheney Brothers, Inc. 2024-08-14 2.1B USD Add-on Acquisition
Riviera Beach, Florida · www.cheneybrothers.com
Orion Food Systems Holdings LLC 2023-07-25 - Add-on Acquisition
Sioux Falls, South Dakota · www.orionfoods.com
Core-Mark Holding Company, Inc. 2021-05-18 2.5B USD Add-on Acquisition
Westlake, Texas · www.core-mark.com
Reinhart Foodservice LLC 2019-07-01 2.0B USD Add-on Acquisition
Rosemont, Illinois · www.rfsdelivers.com
Eby-Brown Company LLC 2019-03-19 - Add-on Acquisition
Naperville, Illinois · www.eby-brown.com
Ellenbee Leggett Co. 2017-03-01 - Add-on Acquisition
Fairfield, Ohio · www.ellenbee.com
Vistar Corp. 2008-05-27 1.4B USD Add-on Acquisition
Centennial, Colorado · www.vistar.com
Fresh Express, Inc. 2005-06-28 855M USD Divestiture
Charlotte,, North Carolina · www.freshexpress.com
Springfield Foodservice LLC 2001-09-10 - Add-on Acquisition
Springfield, Massachusetts
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Vistar Corp. 2008-05-27 Liberty Distribution Co. LLC 2012-06-01 1
Centennial, Colorado · www.vistar.com Chandler, Arizona · www.libertydistribution.com

M&A by Sector

Sector Buy # Value Sell # Value
Food 4 (50%) 3.4B (43%) 1 (100%) 855M (100%)
Distribution 4 (50%) 4.6B (58%) - -
Total 8 $8.0B 1 $855M

By Geo

State/Country Buy Value Sell Value
United States 8 8.0B 1 855M
  Illinois 2 2.0B - -
  Texas 1 2.5B - -
  South Dakota 1 - - -
  Ohio 1 - - -
  Massachusetts 1 - - -
  Florida 1 2.1B - -
  Colorado 1 1.4B - -
  North Carolina - - 1 855M
Total 8 $8.0B 1 $855M

Top M&A Advisors

Financial Deals
J.P. Morgan Securities
2
Credit Suisse Investment Banking
1
BMO Capital Markets
1
Legal Deals
Skadden, Arps, Slate, Meagher & Flom
3

Deal Values

buy # Total
> $1B 4 $8.0B
TOTAL $8.0B
Largest Core-Mark Holding Company, Inc.
$2.5B (2021-05-18)
sell # Total
$100M to $1B 1 $855M
TOTAL $855M
Largest Fresh Express, Inc.
$855M (2005-06-28)

M&A Connections

Deals
Acquired from
Investor(s)
25%
2 (25%)
Divested to
Strategic(s)
100%
1 (100%)

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