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Grocery man

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Just got word on this
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Reply with quote  #2 
Holm claims to have known the shady Reyes family for two decades--good for George. Wasn't George one of the big whiners supplying expert testimony to the Government that the Sysco USF merger was bad for the industry? 

“We are excited to announce the strategic acquisition of Reinhart and welcome them to Performance Food Group,” said George Holm, PFG Chairman, President & Chief Executive Officer. “I’ve known the Reyes family for nearly two decades, and they have built and grown an incredible company. We believe the addition of Reinhart and its complementary strengths will expand Performance Foodservice’s broadline presence, improve our network efficiency and help us achieve our long-term growth goals. This transaction provides us with greater overall scale, a diverse customer base, including a solid base of independent customers, and builds upon our strong distribution platform. We believe these attributes along with attractive financial characteristics will enhance our ability to continue to deliver the service our customers need to succeed and create shareholder value."

“We are excited to partner with PFG and believe this acquisition provides meaningful benefits to our customers and expanded opportunities for our employees,” said J. Christopher Reyes, Reyes Holdings Co-Chairman. “PFG has a solid track record of growth and leadership in our industry. We believe our strengths and the strong cultural connection our companies share will support continued success for many years to come.”

“Reinhart Foodservice understands the important role our associates play in our success. We have proudly invested in our people and infrastructure to build our business, and we’re excited about this acquisition knowing that PFG supports a similar approach,” said M. Jude Reyes, Reyes Holdings Co-Chairman.

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The Reyes brothers late sister Julia was married to a jewish fella from Detroit Bobby S. Taubman. Now all I did was google Taubman name with notorious Purple Gang mobster Max Fisher and viola up pops the 2015 article Remembering Max and Alfred.

So what a wonderful thing that George Holm knows the Reyes family for nearly two decades. Maybe he will reform the Purple Gang? 

https://www.detroitnews.com/story/opinion/2015/04/30/remembering-max-al/26595489/


https://www.artforum.com/search?search=Robert%20Taubman

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formerdsr

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Here we go! 

Who is going to buy Gordon, Ben E. Keith or Shamrock?
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Retiredfoodpro

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Quote:
Originally Posted by formerdsr
Here we go! 

Who is going to buy Gordon, Ben E. Keith or Shamrock?


Who isn't waiting for Amazon to jump in soon. 
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Isthisidok

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While this certainly makes performance stronger it still doesn’t make them a national food service company as reinhart wasn’t out west either
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broadliner

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They can always buy Shamrock and whatever DCs US Foods closes when the sale of FSA goes through.

Quote:
Originally Posted by Isthisidok
While this certainly makes performance stronger it still doesn’t make them a national food service company as reinhart wasn’t out west either
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ISellLettuce

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Huge move. This will put PFG comfortably in the #2 spot by about $5 billion dollars even when the FSA acquisition closes. 

This does bring a PFG presence more out west giving them coverage in NE, KS, SD, ND, and now only leaves a few Western states that PFG doesn't really operate in. I'm sure they'll close the gap with strategic pickups as they make themselves available. This also gives them a great presence in the upper midwest WI, MI and MN, where they haven't had much prior, particularly MI. 

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Retiredfoodpro

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Quote:
Originally Posted by ISellLettuce
Huge move. This will put PFG comfortably in the #2 spot by about $5 billion dollars even when the FSA acquisition closes. 

This does bring a PFG presence more out west giving them coverage in NE, KS, SD, ND, and now only leaves a few Western states that PFG doesn't really operate in. I'm sure they'll close the gap with strategic pickups as they make themselves available. This also gives them a great presence in the upper midwest WI, MI and MN, where they haven't had much prior, particularly MI. 



Portland Oregon PFG has recently pulled over a team of MA's from Sysco.  Apparently PFG is serious now and out for blood. 
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Salamiking

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Quote:
Originally Posted by Retiredfoodpro


Portland Oregon PFG has recently pulled over a team of MA's from Sysco.  Apparently PFG is serious now and out for blood. 


Ran into PFG for the first time ever in Sandusky OH 2 weeks ago and has already called on a dozen of my accounts. They got a rep from a small independent.
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snoman

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Forget about the idea that any of the big 3 (SYS/US/PFG) will be buying any of the lower end of the top 10 (Cheney/Kieth/Merchants/etc) The big 3 are already saturated in these markets and are family run. 

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laser

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Reply with quote  #12 
The $30 plus billion that is being used includes Vistar , their vending division, which will do about $10B this year, after the acquisition Eby Brown earlier this year. Their foodservice business will be about $21B including Reinhart.
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FoodLifer

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Reply with quote  #13 
Agreed it's a big move by PFG.  After IMA's already impending loss of FSA, losing Reinhart will be a major blow to remaining members Shamrock, Nicholas, Merchants and Maines and their buying power come RFP time with manufacturers.  One more reason for Shamrock to sell?
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snoman

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@ Retiredfoodpro
Amazon is already in, the question is how far will they go
https://www.overdriveonline.com/amazons-brokerage-could-soak-up-capacity-hurt-competing-brokers/?utm_source=daily&utm_medium=email&utm_content=05-31-2019&utm_campaign=Overdrive&ust_id=b32f8f5c7bce1b86f1e3cbcc0282fcdb
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1peaandcarrotpusher

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Reply with quote  #15 
Do we know what locations may close? Johnson City TN stay open? What will happen with PFG hickory? Who will be in charge TS from PFG or will JH from Johnson City snake his was into a leader ship roll again. 
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cabbage peddler

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Reply with quote  #16 
Lets Get Ready to R U M B LE ... Reinhart Knoxville vs. PFG Hickory ... who comes on top, who becomes the Boss? 
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