Performance Food Group (Nasdaq/NM:PFGC) yesterday announced that it has completed the business combination with Springfield Foodservice Corporation (“SFC”), a privately-owned, broadline foodservice distributor based in Springfield, Mass. SFC provides products and services to traditional foodservice accounts in a broad region covering much of New England and portions of New York State. The company ranks as the largest independent foodservice distributor in New England and as one of the nation’s leading broadliners. The transaction was valued at approximately $85 million including cash, common shares of Performance Food Group and assumption of certain liabilities.
Performance Food Group markets and distributes more than 31,000 national and private label food and food-related products to approximately 27,000 restaurants, hotels, cafeterias, schools, healthcare facilities and other institutions. For more information on Performance Food Group, visit www.pfgc.com.
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Certain statements made herein are forward-looking statements under the Private Securities litigation Reform Act of 1995. They include statements regarding anticipated earnings for this year and next year, sales momentum, customer and product sales mix, expected efficiencies in the Company’s business and the ability for Performance Food Group to realize expected synergies following acquisitions. These statements involve risks and uncertainties and are based on current expectations and management’s estimates; actual results may differ materially. The risks and uncertainties which could impact these statements include, but are not limited to, the relatively low margins and economic sensitivity of the foodservice business, the Company’s reliance on major customers, the ability to identify and successfully complete acquisitions of other foodservice distributors and management of the Company’s planned growth, all as detailed from time to time in the reports filed by the Company with the Securities and Exchange Commission.
