Performance Food Group Announces $1.06B Senior Notes Offering

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Performance Food Group Company (PFG), a major U.S. foodservice distributor, has announced plans to offer $1.06 billion in senior notes. The move signals the company's strategic financial maneuvering as it navigates a competitive landscape and looks to capitalize on growth opportunities. PFG, headquartered in Richmond, Virginia, has a history dating back to 1885 and is the third-largest foodservice distributor in the country.

Why it matters

PFG's senior notes offering reflects the company's efforts to position itself for continued growth and adaptation within the evolving foodservice distribution market. As a major player in the industry, PFG's financial decisions are closely watched by analysts as indicators of the company's confidence and strategic direction.

The details

The $1.06 billion senior notes offering will allow PFG to potentially fund further expansion, acquisitions, or investments in technology and infrastructure. The company operates through three primary divisions - Foodservice, Convenience, and Specialty - and in 2025 reported total revenues of $63.298 billion, operating income of $816 million, and net income of $340 million. PFG's business model centers on supplying approximately 250,000 products to around 300,000 locations, including restaurants, convenience stores, healthcare facilities, and educational institutions.

• PFG was founded in 1885 and has over 140 years of history.
• PFG was acquired by Wellspring Capital Management and Blackstone Inc. in 2008.
• PFG went public through an IPO in October 2015.
• Blackstone sold its remaining stake in PFG in May 2017.
• PFG reported 2025 total revenues of $63.298 billion.

What’s next

The company's senior notes offering is being closely watched by industry analysts as a signal of PFG's confidence in its future growth prospects and its ability to navigate the evolving demands of the foodservice distribution market.