Performance Food Group Acquires Cheney Bros (Cheney Brothers) for $2.1 Billion
September 3, 2024
Performance Food Group (PFG) will acquire independent broadline foodservice distributor Cheney Bros., Inc. (Cheney Brothers) for $2.1 billion in cash. The deal expands PFG’s Southeast U.S. distribution footprint and adds additional broadline distribution capacity, with expected annual run-rate cost synergies of about $50 million by the third full fiscal year after closing.
- Buyers
- Performance Food Group Company
- Targets
- Cheney Bros., Inc. (Cheney Brothers)
- Sellers
- Cheney family, Clayton Dubilier & Rice (CD&R)
- Industry
- Food & Beverage
- Location
- Florida, United States
- Transaction Type
- Buyout
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