Performance Food Group Company (Nasdaq/NM:PFGC) yesterday announced that it intends to make a public offering of 2,500,000 shares of the Company’s Common Stock. All of the shares are being offered by the Company. The Common Stock will be offered under Performance Food Group’s shelf registration statement that was previously declared effective by the Securities and Exchange Commission. Merrill Lynch & Co. and First Union Securities will lead manage the offering. The Company will also grant the underwriters an over-allotment option to purchase up to an additional 375,000 shares.
Performance Food Group Company intends to use the net proceeds from the sale of shares to assist in financing the pending acquisition of Redi-Cut Foods, Inc. Consummation of the offering is subject to the simultaneous completion of the Redi-Cut acquisition.
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Performance Food Group markets and distributes more than 25,000 national and private label food and food-related products to approximately 27,000 restaurants, hotels, cafeterias, schools, healthcare facilities and other institutions.
A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission and has been declared effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
Copies of the prospectus relating to this offering may be obtained from Merrill Lynch & Co., World Financial Center, North Tower; New York, New York 10281-1239 or from First Union Securities, 7 Saint Paul Street, First Floor, Baltimore, Maryland, 21202.
The foregoing statements regarding Performance Food Group’s intentions with respect to the contemplated common stock offering are forward-looking statements under the Private Securities Litigation Reform Act of 1995, and actual results could vary. Performance Food Group’s ability to complete the offering successfully is subject to various risks, many of which are outside of its control, including prevailing conditions in the public capital markets and other risks and uncertainties as detailed from time to time in the reports filed by the Company with the Securities and Exchange Commission.
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