Performance Food Group Company completed the acquisition of Eby-Brown Company, LLC from Dick Wake and Tom Wake.
April 28, 2019
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Performance Food Group Company (NYSE:PFGC) have signed a definitive agreement to acquire Eby-Brown Company, LLC from Dick Wake and Tom Wake on March 18, 2019. In fiscal year 2018, Eby-Brown Company, LLC have earned the revenues of $5.3 billion. The transaction is subjected to regulatory approval. The transaction is expected to close in the second quarter of calendar 2019. As of April 2, 2019, FTC granted the early termination notice. The transaction is expected to be neutral to slightly accretive to PFG’s Adjusted Earnings Per Share in fiscal 2020. Will Frame, David Tutrone, Pasha Kopelyan, Tim Hoffman, and Carmen Nepa of Deloitte Corporate Finance LLC acted as financial advisors to Eby-Brown Company.
Performance Food Group Company (NYSE:PFGC) completed the acquisition of Eby-Brown Company, LLC from Dick Wake and Tom Wake on April 29, 2019. The acquisition of Eby-Brown includes contingent consideration, including earnout payments in the event certain operating results are achieved during a defined post-closing period. As of June 29, 2019, total contingent consideration outstanding was $82.6 million.
Performance Food Group Company is a food and foodservice distribution company. The Company operates through three segments: Foodservice, Vistar, and Convenience. The Foodservice segment markets and distributes food and food-related products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations. The Vistar segment specializes in distributing candy, snacks, beverages, and other items nationally to vending, office coffee service, theater, retail, hospitality, and other channels. The Convenience segment distributes candy, snacks, beverages, cigarettes, other tobacco products, food and foodservice related products, and other items to convenience stores across North America. The Company, through its subsidiaries, markets and delivers food and related products to over 300,000 customer locations including independent and chain restaurants; businesses, schools and healthcare facilities; vending and office coffee service distributors; and others.
PERFORMANCE FOOD GROUP COMPANY 
