Performance Food Group to offer $780 million of senior notes

July 13, 2021

Performance Food Group Co. (NYSE: PFGC) announced this week that its indirect wholly owned subsidiary, Performance Food Group Inc., intends to offer a $780 million aggregate principal amount of senior notes due in 2029.

PFG said it intends to use the net proceeds from the offering, along with other financing sources, to finance the cash consideration payable in connection with PFG’s previously announced acquisition of Core-Mark Holding Co. Inc.and to pay related fees and expenses.

The food and product distribution giant said the notes will be guaranteed by the issuer, Performance Food Group Inc., and all of the issuer's existing and future material wholly owned domestic restricted subsidiaries, subject to certain exceptions.

The closing of the offering is not conditioned on the closing of the Core-Mark acquisition. If the acquisition is not consummated, the issuer will be required to redeem the notes at a price equal to 100% of the issue price of the notes

Headquartered in Richmond, VA, Performance Food Group operates a nationwide network of more than100 distribution facilities serving over 200,000 locations, including restaurants, schools, business and industry locations, healthcare facilities, vending machine and office coffee service operators, big box retailers, theaters and convenience stores. PFG is the parent company vend product distributor Vistar.


[Credit: Performance Food Group Co.]
Performance Food Groupe Core Mark Logos

Performance Food Group to purchase c-store wholesaler Core-Mark

May 19, 2021
Performance Food Group Co., parent of vend product distributor Vistar, said it is acquiring Core-Mark Holding Co. Inc. in a stock and cash transaction. Under the terms of the ...