Welcome to our dedicated page for Performance Food Group Company news (Ticker: PFGC), a resource for investors and traders seeking the latest updates and insights on Performance Food Group Company stock.
Performance Food Group Company (PFGC) is a leading foodservice distributor in the United States with over 150,000 customer locations and approximately 150,000 food and related products. Operating through its three main divisions—Performance Foodservice, Vistar, and PFG Customized—the company has a broad customer base that includes independent and chain restaurants, schools, hospitals, vending distributors, and big box retailers. PFG's extensive reach is supported by 68 distribution centers and more than 12,000 associates nationwide.
Founded in Richmond, Virginia, PFG is recognized as the third-largest U.S. food-service distributor, holding a 9% market share. The company's food-service business, which accounts for 52% of its 2022 sales, provides customized food products and services to a wide range of customers. PFG has also expanded into the convenience store segment, contributing 41% to its sales, through strategic acquisitions such as Eby-Brown in 2019 and Core-Mark in 2021. The Vistar division, making up 7% of sales, distributes snacks, candy, and beverages to vending and office coffee service distributors, theaters, and hospitality providers.
Recent achievements underscore PFG's commitment to sustainability and innovation. In January 2024, the company partnered with Hyzon Motors to introduce hydrogen fuel cell electric vehicles (FCEVs) into its fleet, marking a significant step toward achieving decarbonization goals. These zero-emission trucks, delivered to PFG's Vistar facility in Fontana, California, will help reduce carbon emissions and noise pollution, benefiting the environment and local communities.
Furthermore, in April 2024, PFG announced a partnership with Neogen Corporation to enhance its PathProven food trace technology. This collaboration utilizes Neogen's DNA testing capabilities to trace food products back to their origins, ensuring quality and transparency. PFG's flagship Braveheart Black Angus Beef program exemplifies this commitment, using DNA testing to verify Angus genetics and set a high standard for beef programs.
Financially, PFG has demonstrated robust performance as a Fortune 100 company, driven by its dedicated workforce of over 35,000 associates. The company's strategic partnerships and innovative solutions continue to position it as a trusted partner in the foodservice industry.
Performance Food Group Company (PFGC) announced it will host a live audio webcast to discuss its third-quarter fiscal 2023 financial results on May 10, 2023, at 9 a.m. ET. A news release with the financial results will be issued at approximately 7 a.m. ET on the same day. The event will feature discussions with George Holm, Chairman & CEO, and Patrick Hatcher, Executive VP & CFO, who will also answer questions from the investment community and media. Investors can access the webcast via investors.pfgc.com, with pre-event registration required. An archived version will be available later that day.
PFGC, based in Richmond, Virginia, is one of North America's largest food distribution companies, serving over 300,000 locations with a workforce of more than 35,000 associates.
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