Performance Food Group to acquire Reinhart Foodservice
The addition of Reinhart’s distribution footprint in key geographies enhances PFG’s existing distribution platform and market density.
Performance Food Group Co. (PFG), Richmond, Va., announced plans to acquire Reinhart Foodservice, LLC, Rosemont, Ill., from Reyes Holdings, LLC, Rosemont, Ill., for $2 billion.
“We are excited to announce the strategic acquisition of Reinhart and welcome them to Performance Food Group,” says George Holm, chairman, president and CEO of PFG. “I’ve known the Reyes family for nearly two decades, and they have built and grown an incredible company. We believe the addition of Reinhart and its complementary strengths will expand Performance Foodservice’s broadline presence, improve our network efficiency and help us achieve our long-term growth goals. This transaction provides us with greater overall scale, a diverse customer base, including a solid base of independent customers, and builds upon our strong distribution platform. We believe these attributes along with attractive financial characteristics will enhance our ability to continue to deliver the service our customers need to succeed and create shareholder value."