Performance Food Group Company announced that it has received approval from the Federal Trade Commission to acquire Reinhart Foodservice, LLC. PFG expects to close the transaction on or about Dec. 30, 2019, subject to the satisfaction or waiver of the remaining closing conditions.
“We are pleased to receive FTC approval to move forward with our acquisition of Reinhart Foodservice,” said George Holm, PFG chairman, president and CEO. “This transaction builds upon our strong distribution platform and will provide us with greater overall scale and a diverse customer base, including independent customers. We expect this transaction to enhance our ability to help our customers thrive and believe the attractive financial characteristics will create long-term shareholder value."
Founded in 1972, Reinhart Foodservice is a part of the Reyes Family of Businesses and is one of the five largest foodservice distributors in the United States. From 26 distribution centers, Reinhart provides fresh produce, proteins, ingredients, supplies and equipment to customers across the country, including independent and chain restaurants, delis, sporting venues, schools, healthcare facilities, and the military.
Performance Food Group is a foodservice distribution leader headquartered in Richmond, Virginia. Grounded by roots that date back to a grocery peddler in 1885, PFG has a nationwide network of over 80 distribution centers, 18,000-plus associates and more than 5,000 valued suppliers across the country.