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Performance Food Group

Performance Food Group Company
Company typePublic company
Founded1885; 139 years ago (1885)
FounderRobert Sledd Edit this on Wikidata
HeadquartersRichmond, Virginia, U.S.
Key people
George Holm, Chairman, President & CEO
James Hope, EVP & CFO
RevenueIncrease US$30.398 Billion (Fiscal Year Ended July 3, 2021)[1]
Increase US$200.7 Million (Fiscal Year Ended July 3, 2021)[1]
Increase US$40.7 Million (Fiscal Year Ended July 3, 2021)[1]
Total assetsIncrease US$7.845 Billion (Fiscal Year Ended July 3, 2021)[1]
Total equityIncrease US$2.106 Billion (Fiscal Year Ended July 3, 2021)[1]
Number of employees
22,770 (July 3, 2021)
Websitewww.pfgc.com

Performance Food Group Company (PFG) is an American company that was founded in 1885 in Richmond, Virginia, by food peddler James Capers.[2][3] Headquartered in Goochland County, Virginia (just outside Richmond), the company distributes a range of food products, and has more than 22,000 employees.[citation needed] It has three divisions, each catering to specific market segments: Performance Foodservice, Vistar, and PFG Customized.[4]

History

James Capers' original business which was founded on 1885, grew into Pocahontas Foods.[2][5] The company became Performance Food Group in 1987.[2] In 2008, the company announced it was to be acquired by Wellspring Capital Management and Blackstone Group for $1.3 billion.[6][7] Two other foodservice companies owned by the private equity firms, snack food distributor Vistar and Italian foodservice company Roma Foods, were then merged into PFG. PFG went public on October 2, 2015, at NYSE with issuing 14.5 million shares at $19 per share.[8] The company is also a Fortune 500 company, currently ranked at 114 as of 2021.[9][10]

Acquisition history

References

  1. ^ a b c d e "Performance Food Group Company 2021 Annual Report" (PDF). pfgc.com. July 3, 2021. Retrieved October 6, 2021.
  2. ^ a b c "More Than 100 Years of Foodservice Excellence". PFG. Retrieved October 9, 2017.
  3. ^ "History of the Foodservice Distribution Industry" (PDF). International Foodservice Distributors Association.
  4. ^ Hunt, Rhian (September 27, 2021). "3 Good Reasons This Food Service Company Belongs in Your Portfolio". The Motley Fool. Retrieved October 7, 2021.
  5. ^ "ID NEWS: Pocahontas announces umbrella name, also, new group". Restaurant Business. March 21, 2003. Retrieved October 7, 2021.
  6. ^ Equity Firms Acquiring Food Supplier. Bloomberg, January 19, 2008
  7. ^ Blackstone, Wellspring to acquire Performance Food Group in $1.3bn deal Archived June 11, 2008, at the Wayback Machine. AltAssets, January 18, 2008
  8. ^ Margin, Jonathan Maze in On the (October 2015). "Performance Food Group has a modest IPO". Retrieved May 12, 2016.
  9. ^ "Fortune 500: Performance Food Group". Retrieved October 7, 2021.
  10. ^ Lloyd, Gloria (September 27, 2021). "Historic north riverfront warehouse could be demolished for parking lot expansion". St. Louis Business Journal. Retrieved October 7, 2021.
  11. ^ Performance Food Group Company Completes the Acquisition of Core-Mark. Stockhouse, September 1, 2021
  12. ^ Eby-Brown to Be Acquired by Performance Food Group. CSNews, March 19, 2020
  13. ^ Performance Food Group Completes Acquisition of Reinhart Foodservice. Restaurantinformer, January 1, 2020
  14. ^ Kinney, Jim (October 9, 2009). "STCC honors 6 businesses with induction into Western Massachusetts Entrepreneurship Hall of Fame". MassLive. Retrieved November 29, 2021.
  15. ^ "PFG to acquire SFC-Springfield Foodservice". RestaurantBusinessOnline. July 26, 2001. Retrieved February 7, 2024. Archived February 8, 2024, at the Wayback Machine


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