July 1, 2019 / 11:16 AM / 15 days ago

Performance Food Group to buy Reinhart Foodservice in a $2 billion deal

July 1 (Reuters) - Foodservice distributor Performance Food Group Co said on Monday it would buy privately held rival Reinhart Foodservice LLC from Reyes Holdings LLC in a deal valued at $2 billion.

The deal comes as food distributors struggle with rising transportation costs that are denting margins.

“This transaction provides us with greater overall scale, a diverse customer base...,” Performance Food Group Chief Executive Officer George Holm said in a statement. (Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)

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