Performance Food Group Company (the “Company”) (NYSE: PFGC) today announced the pricing of the underwritten secondary offering by an affiliate of Wellspring Capital Management LLC (the “Selling Stockholder”) of 5,000,000 shares of the common stock of the Company at a public offering price of $28.25 per share. The offering is expected to close on November 24, 2017, subject to customary closing conditions. The Selling Stockholder will receive all of the proceeds from this offering. The Company did not offer any shares of common stock in the offering and will not receive any proceeds from the sale of shares in this offering.
Barclays Capital Inc. is acting as sole underwriter for the offering.
The offering is being made pursuant to the Company’s automatic shelf registration statement filed with the Securities and Exchange Commission (the “Commission”), which became effective upon filing. The offering is being made only by means of a prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus related to the offering may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, email: [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About the Company
Through its family of leading foodservice distributors – Performance Foodservice, Vistar and PFG Customized – the Company markets and distributes approximately 150,000 food and food-related products from 76 distribution centers to over 150,000 customer locations across the United States. The Company’s 14,000+ associates serve a diverse mix of customers, from independent and chain restaurants to schools, business and industry locations, hospitals, vending distributors, office coffee service distributors, retailers and theaters. The Company sources its products from more than 5,000 suppliers and serves as an important partner to its suppliers by providing them access to the Company's broad customer base.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words.
Such forward-looking statements are subject to various risks and uncertainties. The following factors, in addition to those discussed under the section entitled Item 1A Risk Factors in the Company’s Annual Report on Form 10-K for the fiscal year ended July 1, 2017 filed with the Commission, as such factors may be updated from time to time in the Company’s periodic filings with the Commission, which are accessible on the Commission’s website at www.sec.gov, could cause actual future results to differ materially from those expressed in any forward-looking statements:
Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the Company’s filings with the Commission. Any forward-looking statement, including any contained herein, speaks only as of the time of this press release, and the Company does not undertake to update or revise them as more information becomes available or to disclose any facts, events or circumstances after the date of this press release that may affect the accuracy of any forward-looking statement, except as required by law.
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Performance Food Group Company
Investor Contact:
Michael Neese
Vice
President, Investor Relations
804-287-8126
[email protected]
or
Media
Contact:
Joe Vagi
Manager, Corporate Communications
804-839-4995
[email protected]