US Foods, Performance Food Group Call Off Potential Combination
US Foods and Performance Food Group (PFG) mutually called off their potential merger after completing the information-sharing process, according to releases from both companies.
Dave Flitman, CEO of US Foods, said the company’s best path forward was to continue along its long-range plan. US Foods, in the announcement, reiterated its outlook for fiscal 2025 as well as its 2025-2027 long-range plan, and also announced two new share repurchasing plans.
“From the very beginning of this process, we have been clear about our ability to deliver on our growth algorithm as a standalone company,” Flitman said in the release. “Our team’s execution and unwavering commitment to customer success have driven consistent above-market top and bottom line growth, and we remain firmly positioned to achieve our Long-range Plan.”
PFG chairman and CEO George Holm shared similar thoughts in his company’s announcement, saying PFG’s board was unanimous in its belief that terminating the potential combination was the right move, adding that “the clearest and best path to long-term stockholder values is executing our standalone strategic plan, leveraging our diverse business segments to drive consistent revenue and profit growth.” He said that the strength of PFG’s recent first-quarter results supports the company’s decision.
PFG also reaffirmed its fiscal 2026 and Q2 outlook in the announcement.
About the Author
Andy Hanacek
Senior Editor
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.