Nation's #3 broadliner, Performance, filing IPO, may go public again
SEAFOODNEWS.COM [Richmond BizSense] By Michael Schwartz - September 24, 2014 -
Performance Food Group (PFG), the Goochland, Virginia - based food distribution giant, made a preliminary filing on Tuesday for an IPO that could raise hundreds of millions in capital and take the company public once again.
PFG is majority owned by the Blackstone Group and Wellspring Capital Management. The two private equity firms took PFG private in 2008. Prior to that, the company had been a publicly traded Fortune 500 firm.
PFG in its filing says it is the third-largest player in the U.S. food service distribution industry. It pegs that industry at a value of $231 billion and says it believes it controls about a 5.8 percent share of that market. It generated $13.7 billion in sales in its most recent fiscal year.
Its chain restaurant customers include Cracker Barrel, Outback Steakhouse, Wendy’s and Taco Bell...
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