Performance Foodservice, a division of Performance Food Group Company (PFG), is a leading American foodservice distributor headquartered in Richmond, Virginia. Established in 1885, the company has grown to become a significant player in the food distribution industry, delivering a wide range of food and related products to customers across the United States and Canada.
Background
Performance Foodservice's mission is to provide high-quality food products and services that enable its customers to thrive. The company focuses on delivering fresh, safe, and innovative food solutions to a diverse clientele, including independent restaurants, national chains, healthcare facilities, and educational institutions. With a commitment to excellence and customer satisfaction, Performance Foodservice has established itself as a trusted partner in the foodservice industry.
Key Strategic Focus
The company's strategic focus centers on expanding its market presence through acquisitions and organic growth, enhancing its product offerings, and leveraging technology to improve operational efficiency. Performance Foodservice specializes in distributing a broad array of products, including baked goods, seafood, USDA meats, condiments, and cleaning supplies. The company targets various markets, such as independent restaurants, national chains, healthcare facilities, and educational institutions, aiming to meet the diverse needs of its customers.
Financials and Funding
Performance Food Group Company (PFG), the parent company of Performance Foodservice, reported net sales of $58.28 billion for fiscal year 2024. The company's stock is publicly traded under the ticker symbol PFGC. As of May 21, 2025, PFGC's stock price is $87.51, with a market capitalization reflecting its substantial presence in the foodservice distribution industry.
Pipeline Development
Performance Foodservice continually seeks to expand its product portfolio and service capabilities. The company has a history of strategic acquisitions to enhance its market position. Notably, in August 2024, Performance Food Group announced plans to acquire Cheney Bros, a foodservice distributor based in Florida, for $2.1 billion. This acquisition is expected to strengthen Performance Foodservice's presence in the Southeastern U.S., expanding into Florida, Georgia, North Carolina, and South Carolina. The deal is anticipated to close in 2025 and is projected to contribute positively to the company's earnings per share within the first full fiscal year post-acquisition.
Technological Platform and Innovation
Performance Foodservice leverages advanced technologies to enhance its distribution network and customer service. The company utilizes a comprehensive tech stack, including tools like Canva, Microsoft PowerPoint, Kronos, and ADP HRMS, to streamline operations and improve efficiency. By integrating these technologies, Performance Foodservice ensures timely deliveries, maintains product quality, and offers innovative solutions to meet the evolving needs of its customers.
Leadership Team
Performance Foodservice's leadership team comprises experienced professionals dedicated to driving the company's success:
- George Holm: Chairman & Chief Executive Officer of PFG.
- Craig Hoskins: President & Chief Operating Officer of PFG.
- Scott McPherson: Executive Vice President and Chief Field Officer of PFG.
- Eric Shoemaker: Corporate Executive Vice President of Performance Foodservice.
- Steve Broad: Field Executive Vice President of Performance Foodservice.
- George Hearn: Senior Vice President and Chief Financial Officer of Performance Foodservice.
- Joe Davi: Senior Vice President and President of Special Segments.
- Scott Barnewolt: Senior Vice President of Procurement.
- Suzanne Gargis: Senior Vice President of Human Resources.
- Jeff Williamson: Senior Vice President of Operations.
- Bryan Jones: Vice President of Information Technology.
- Shaun Kastner: Vice President of Corporate Sales, Commercial.
- Alan Murphy: Vice President of Information Technology.
- Karen Marshall: Vice President of Corporate Marketing.
- Glenn Strickholm: President of PFG Protein Brands.
- Toby Bronson: President of PFG Customized.
This team brings a wealth of experience in the foodservice industry, guiding Performance Foodservice's strategic initiatives and operational excellence.
Competitor Profile
Performance Foodservice operates in a competitive landscape with several key players:
- Sysco Corporation: As the world's largest broadline food distributor, Sysco reported revenues of $78.8 billion in fiscal year 2024. The company serves approximately 700,000 customer locations and operates 340 distribution centers in 10 countries.
- US Foods: With revenues of $37.9 billion in fiscal year 2024, US Foods serves a diverse customer base, including independent restaurants, healthcare facilities, and educational institutions. The company operates 72 distribution centers across the United States.
- Gordon Food Service: A privately held company with revenues of $12.9 billion in 2016, Gordon Food Service operates 14 distribution centers in the U.S. and serves a wide variety of foodservice companies across industries.
These competitors offer similar products and services, making the foodservice distribution industry highly competitive.
Strategic Collaborations and Partnerships
Performance Foodservice has engaged in strategic acquisitions to strengthen its market position and expand its capabilities. The planned acquisition of Cheney Bros for $2.1 billion is a significant move to enhance the company's presence in the Southeastern U.S. This follows previous acquisitions, such as the purchase of Core-Mark Holding for $2.5 billion in 2021 and Reinhart Foodservice for $2 billion in 2019, demonstrating a consistent strategy of growth through acquisition.
Operational Insights
Performance Foodservice's extensive distribution network, comprising over 100 distribution centers, enables efficient delivery of more than 300,000 food and related products to over 200,000 customer locations. The company's commitment to quality, customer service, and innovation provides a competitive advantage in the foodservice distribution industry.
Strategic Opportunities and Future Directions
Looking ahead, Performance Foodservice aims to continue its growth trajectory through strategic acquisitions, expansion into new markets, and enhancement of its product offerings. The company's focus on leveraging technology and innovation positions it well to meet the evolving needs of its diverse customer base.
Contact Information
For more information about Performance Foodservice, visit their official website:
Performance Foodservice's headquarters are located in Richmond, Virginia.
