RICHMOND, VA — The previously announced acquisition of the Performance Food Group Co. by investment affiliates The Blackstone Group and Wellspring Capital Management has been completed. Through the $1.4 billion transaction, Performance Food Group is merging with specialty foodservice distributor Vistar Corp., controlled by Blackstone and Wellspring affiliates.
The newly combined company, known as Performance Food Group, is expected to have revenues approaching $10 billion and will employ more than 10,000 people. Under the terms of the agreement, PFG shareholders will receive $34.50 in cash for each outstanding share of PFG common stock held as of May 23, 2008. Performance Food Group’s common stock was delisted and ceased trading on the Nasdaq.
Vistar Plans Ohio, N.C.
Buying Shows For Aug.
CENTENNIAL, CO — Vistar is putting the finishing touches on plans for its summer open houses in North Carolina and Ohio, where the distributor will showcase the latest in OCS, vending and foodservice products and equipment and reward operators with valuable show specials.
Vistar of Greensboro’s trade show will take place Wednesday, August 6, at the M.C. Benton Jr. Convention Center in Winston-Salem, NC. An opening reception will be held on Tuesday, August 5, from 6 p.m. to 10 p.m. at the Marriott at 425 North Cherry St. in the same city.
The product and equipment show runs Wednesday from 9 a.m. to 3 p.m.. It will give operators the opportunity to review industry innovations with manufacturer and broker representatives in a relaxed atmosphere.
Vistar of Ohio will hold its annual buying show and golf outing August 7 and 8, Thursday and Friday, at the Ironwood Golf Club in Hinkley, OH. The annual Vistar of Ohio Golf Scramble, limited to the first 100 golfers, will get underway on Thursday with an 8:30 a.m. tee time. It concludes at 3 p.m.
Registration for the trade show is open from 3 p.m. to 6 p.m. at the Grand Ballroom; this will be followed by a cocktail reception and customer appreciation dinner, where prizes will be awarded to the winning golfers.
Friday’s agenda begins with a complimentary breakfast from 7 a.m. to 9 a.m. at the golf club restaurant. Buying show hours are 9 a.m. to 2 p.m. in the Grand Ballroom.
Vistar of Greensboro can be reached at tel. (800) 288- 2460; Vistar of Ohio’s phone number is (800) 950-9020.
George Holm, president and chief executive officer of Vistar, will assume the role of chief executive for Performance Food Group. An executive in the foodservice distribution industry for 28 years, Holm held senior leadership roles with Alliant Foodservice Inc., U.S. Foodservice Inc. and Sysco Corp. prior to joining Vistar.
Performance Food Group, headquartered here, is the nation’s third largest foodservice distributor. The company markets and distributes more than 68,000 national and private-label food and food-related products to over 41,000 restaurants, hotels, cafeterias, schools, healthcare facilities and other institutions in all 50 states and in 40 countries.
Vistar Corp., based in Centennial, CO, is the only national distributor to the vending, office coffee service, theater and fundraising markets. Its Roma Foodservice division is a leading distributor of Italian foods and products to independent pizzerias. The food distributor serves more than 33,000 customers in 50 states through 36 distribution centers.