Reyes Holdings Announces Agreement to Sell Reinhart Foodservice to Performance Food Group Company
July 01, 2019
ROSEMONT, IL – July 1, 2019. Reyes Holdings, L.L.C. has signed an agreement to sell Reinhart Foodservice, L.L.C. to Performance Food Group Company (PFG), headquartered in Richmond, Virginia, for $2 billion. Complementary cultures and geographic footprints, along with Reinhart’s strong reputation and diverse customer base, highlight the strategic value of this transaction.
“We are excited to partner with PFG and believe this acquisition provides meaningful benefits to our customers and expanded opportunities for our employees. PFG has a solid track record of growth and leadership in our industry,” said J. Christopher Reyes, Reyes Holdings Co-Chairman. “We believe our strengths and the strong cultural connection our companies share will support continued success for many years to come.”
Together Reinhart and PFG are better positioned to compete more effectively into the future. Once combined the business will have close to 25,000 employees and revenues of approximately $30 billion making PFG one of the largest distributors in the United States.
“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.
The transaction is expected to close by year-end, pending regulatory approval.
About Reyes Holdings, L.L.C.
Reyes Holdings, aligned with leading beverage and foodservice providers, produces and delivers some of the best-known brands and widest variety of food and beverage items to retailers around the world. Annually, the company delivers more than 1.3 billion cases of beverage and food products from over 170 locations across the world. Reyes Holdings operations include Reyes Beer Division, the largest beer distributor in the United States representing import, craft and domestic beer brands; The Martin-Brower Company, L.L.C., a global quick-service restaurant distribution business and the largest supplier worldwide of distribution services to the McDonalds restaurant system; Reinhart Foodservice, L.L.C., one of the largest broadline foodservice distributors in the United States; Great Lakes Coca-Cola Bottling, a dedicated Coca-Cola bottler and distributor serving Chicagoland and the Midwest; and Reyes
Coca-Cola Bottling, a West Coast bottler and distributor of Coca-Cola products. Reyes Holdings is the 9th largest privately held company in the United States with more than 33,000 employees and annual sales exceeding $33 billion. For more information about Reyes Holdings, visit the company website at www.reyesholdings.com
About Reinhart Foodservice, L.L.C.
Founded in 1972, Reinhart Foodservice is a part of the Reyes Family of Businesses and is one of the five largest foodservice distributors in the United States. From 26 distribution centers, Reinhart provides fresh produce, proteins, ingredients, supplies and equipment to customers across the country, including independent and chain restaurants, delis, sporting venues, schools, healthcare facilities, and the military. Reinhart is dedicated to driving the success of the customers and communities it serves and is committed to the highest levels of safety and service. To learn more about Reinhart, visit www.RFSdelivers.com.