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Performance Food Group To Acquire Reinhart Foodservice For 2 Billion

RICHMOND, VA -- Performance Food Group Co., parent to nationwide vending distribution giant Vistar , has agreed to acquire rival Reinhart Foodservice LLC from Reyes Holdings LLC in an all-cash transaction valued at $2 billion. With annual net sales of over $6 billion, Reinhart is the second largest privately held foodservice distributor in the U.S. Combined, the companies would have more than $30 billion in sales, according to PFG, which has a market value of $4.2 billion. The transaction is expect...

June 30, 2019 by Emily Jed

RICHMOND, VA -- Performance Food Group Co., parent to nationwide vending distribution giant Vistar, has agreed to acquire rival Reinhart Foodservice LLC  from Reyes Holdings LLC in an all-cash transaction valued at $2 billion.

With annual net sales of over $6 billion, Reinhart is the second largest privately held foodservice distributor in the U.S. Combined, the companies would have more than $30 billion in sales, according to PFG, which has a market value of $4.2 billion. The transaction is expected to close by the end of the calendar year.

Reinhart, headquartered in Rosemont, IL, has 26 distribution centers. It has approximately 90,000 SKUs sold to its 42,500 customers and a team of 5,600 associates.

"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," said PFG chairman, president and chief executive George Holm.

The addition of Reinhart's distribution footprint in key geographies enhances PFG's existing distribution platform and market density. Reinhart's diverse customer base includes independent restaurants, healthcare, education and other segments. The combined portfolio of proprietary brands broadens PFG's offering, according to officials.

Headquartered in Richmond, VA, PFG has a nationwide network of 80-plus distribution centers, nearly 18,000 associates and more than 5,000 suppliers across the country. It delivers food and related products to more than 150,000 locations including independent and chain restaurants, schools, business and industry locations, healthcare facilities, vending, micromarket and office coffee service operators, big box retailers, theaters and convenience stores.