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MarketScreener Homepage  >  Equities  >  Nyse  >  Performance Food Group Company    PFGC

PERFORMANCE FOOD GROUP COMPANY

(PFGC)
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Performance Food : Foodservice Launches Proprietary Line of Plant-based Protein Products

11/16/2020 | 09:07am EST

Performance Foodservice, a division of Performance Food Group Company (PFG) (NYSE:PFGC) announced the launch of its Green Origin™ brand, a proprietary line of plant-based protein products. Made from delicious, simple ingredients, the Green Origin portfolio includes plant-based burgers, grinds, breakfast sausages, and nuggets. Green Origin products are made exclusively by Greenleaf Foods, SPC, owner of leading plant-based brands Lightlife® and Field Roast™. With this launch, Performance Foodservice will have one of the largest plant-based Exclusive Brand portfolios in the industry.

“We’re well past the point of plant-based eating as a niche trend,” said Fred Sanelli, senior vice president of marketing and sales at Performance Foodservice. “It has become a significant and growing segment in the foodservice landscape. We know that the number of consumers committed to a cleaner, more sustainable, healthier, and great tasting culinary lifestyle is increasing rapidly, and we are thrilled to add our expertise to the pursuit of a ‘greener way of life.’ Our Green Origin line delivers a premium eating experience that will give our customers exciting menu options.”

Green Origin products are 100 percent plant-based, free of artificial flavors, colors, and additives. The exceptional integrity of the sourcing process carries through to every level of production, from manufacturing, to packaging, to distribution. Many of the products, including the plant-based burgers and grinds are vegan-certified, non-GMO-certified, soy-free, gluten-free, and kosher.

“In addition to offering our Lightlife and Field Roast branded products to Performance Foodservice customers, we’re excited to support the Green Origin product line,” said Dan Curtin, president of Greenleaf Foods. “Their broad network of restaurant and foodservice outlets makes them a strong partner to deliver great tasting plant-based protein to more people throughout the country.”

About Performance Food Group Company

Built on the many proud histories of our family of companies, Performance Food Group is a customer-centric foodservice distribution leader headquartered in Richmond, Virginia. Grounded by roots that date back to a grocery peddler in 1885, PFG today has a nationwide network of over 100 distribution facilities, thousands of talented associates and valued suppliers across the country. With the goal of helping our customers thrive, we market and deliver quality food and related products to over 200,000 locations including independent and chain restaurants, schools, business and industry locations, healthcare facilities, vending distributors, office coffee service distributors, big box retailers, theaters and convenience stores. Building strong relationships is core to PFG’s success – from connecting associates with great career opportunities to connecting valued suppliers and quality products with PFG’s broad and diverse customer base. To learn more about PFG and Performance Foodservice, visit pfgc.com.

About Greenleaf Foods, SPC

Greenleaf Foods, SPC, is transforming plant-based protein with a wide array of delicious and innovative products that satisfy consumers interested in adding protein variety to their diets. Our leading brands include Lightlife (“Lightlife”) and Field Roast Grain Meat Co. (“Field Roast”). Together, these brands are delighting loyal, longtime fans and enticing new ones who never knew plant-based protein could taste so good. The Lightlife and Field Roast portfolios feature nearly 50 products and represent a leading market position in the refrigerated, plant-based protein category in the U.S. Greenleaf Foods, SPC, is a wholly owned, independent subsidiary of Maple Leaf Foods Inc. (TSX:MFI). For more information about Greenleaf Foods, visit greenleaffoods.com.


© Business Wire 2020
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Financials (USD)
Sales 2021 28 486 M - -
Net income 2021 42,4 M - -
Net Debt 2021 2 483 M - -
P/E ratio 2021 185x
Yield 2021 -
Capitalization 6 834 M 6 834 M -
EV / Sales 2021 0,33x
EV / Sales 2022 0,29x
Nbr of Employees 20 000
Free-Float 97,8%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 49,95 $
Last Close Price 51,18 $
Spread / Highest target 17,2%
Spread / Average Target -2,40%
Spread / Lowest Target -36,5%
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Managers and Directors
NameTitle
George L. Holm Chairman, President & Chief Executive Officer
James D. Hope Chief Financial Officer & Executive Vice President
Donald S. Bulmer Chief Information Officer & Senior Vice President
Jeffrey M. Overly Independent Director
William Francis Dawson Director
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