secwatch.observer — SEC 8-K summary
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Issuer:     Performance Food Group Co (PFGC)
CIK:        0001618673
Form:       8-K
Filed at:   2024-10-08T23:59:59+00:00
Accession:  0001193125-24-234397
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 2.01, 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PFG completes $2.095B Cheney Brothers acquisition; raises FY2025 outlook
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- Acquired Cheney Brothers for $2.095B in cash, adding ~$3.2B annual revenue and 5 distribution centers in FL/NC.
- Expects ~$50M annual run-rate cost synergies by third full fiscal year post-close.
- FY2025 net sales guidance raised to $62.5B-$63.5B (prior $60B-$61B); Adjusted EBITDA to $1.7B-$1.8B (prior $1.6B-$1.7B).
- Transaction expected to be accretive to adjusted diluted EPS by end of first full fiscal year.
- Purchase price reflects 13.0x Cheney's TTM Adjusted EBITDA, or 9.9x including synergies.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1618673/000119312524234397/0001193125-24-234397-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1618673/000119312524234397/d838819d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-234397

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