Performance Food Group Positions For C-Store Growth With Eby-Brown Acquisition

Posted On: 3/19/2019

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RICHMOND, VA -- Performance Food Group Co., parent of nationwide vending distributor Vistar, has signed a definitive agreement to acquire Eby-Brown Co. LLC, a leading U.S. distributor of pre-packaged candy, snacks, specialty beverages and tobacco products in the convenience industry.
This acquisition will allow PFG's Vistar segment to strategically expand in the fast-growing convenience store channel where there is significant overlap with suppliers and product categories, as well as opportunities to use PFG brands for unique solutions in the prepared/made-to-order foodservice market. Vistar and Eby-Brown combined will service more than 75,000 locations and Vistar would be No. 1 in locations served and No. 2 in overall non-tobacco convenience volume.
"We are excited about Eby-Brown joining the PFG family of companies and adding their customer-centric approach to ours," said PFG chairman, president and chief executive George Holm. "Their impressive levels of order fulfillment, on-time delivery and ability to adapt to customer needs have helped build their reputation as a premier provider of convenience industry solutions for independent operators and larger retail chains. This acquisition will provide a new, complementary growth opportunity for PFG with incremental revenue synergies in our foodservice platform."
Eby-Brown is a privately held company founded more than 125 years ago. Headquartered in Naperville, IL, it is led today by Dick and Tom Wake, and operates eight distribution facilities in Georgia, Kentucky, Illinois, Indiana, Michigan, Ohio, Pennsylvania and Wisconsin that serve 20 states. Eby-Brown had fiscal 2018 revenues of $5.3 billion, which included $1 billion of tobacco excise taxes.
"George and his management team understand and share our values and belief in forming lasting relationships with customers and business partners," said Tom Wake, co-president of Eby-Brown.
Eby-Brown co-president Dick Wake added, "We believe this acquisition will better position us to serve existing and new customers, and we're excited about the innovative possibilities that we will be able to provide to our customers, as a part of PFG."
The transaction to close in the second quarter of calendar 2019.