Performance Food Group Stock Jumps on $2.1B Distributor Acquisition

Key Takeaways Performance Food Group acquired Cheney Bros., a foodservice distribution company with a footprint in the Southeast. Cheney Bros. generates about $3.2 billion in annual revenue. PFG also posted fourth-quarter adjusted EPS that exceeded analysts' expectations. Performance Food Group Co. (PFGC) shares surged in intraday trading Wednesday after announcing a$2.1 billion cash acquisition of foodservice distributor Cheney Bros. and posting fourth-quarter adjusted earnings per share (EPS) that topped ...