RICHMOND, VA -- Performance Food Group Inc., parent company of vending and OCS distributor Vistar, has agreed to acquire Institution Food House Inc. from Alex Lee Inc. The deal, expected to close in mid-June, will enhance PFG's service and offerings to customers in the Southeast.
Founded in 1966, Institution Food House is the largest independently owned broad-line foodservice distributor based in the Carolinas, with $600 million in annual sales. Its customers range from restaurants and hotels to school systems and healthcare providers. It has approximately 6,000 customers concentrated in North and South Carolina, Virginia and Georgia. The company is headquartered in Hickory, NC, maintains a branch in Florence, SC, and employs 700 people.
IFH's parent company, Alex Lee, also owns Hickory-based Merchants Distributors Inc., a wholesale grocery store distributor, and Winston-Salem-based Lowe's Food Stores.
Performance Food Group is also the parent company of Performance Foodservice and PFG Customized Distribution. It delivers to more than 115,000 clients that include vending operations, restaurants, pizzerias, theaters, schools, hotels, healthcare facilities and other institutions through its 64 distribution centers and 12 Merchant's Mart locations across the U.S.