Broadliner Shakeup: Performance Food Group Buys Reinhart Foodservice

In an acquisition that resets the broadline distribution sector, Performance Food Group announced July 1 it has acquired Reinhart Foodservice for $2 billion.

The deal unites the country’s third- and fifth-largest foodservice distributors. PFG, ranked third, has about $18 billion in net sales. Only Sysco and US Foods are bigger than Richmond, Va.-based PFG.

Reinhart, ranked fifth among broadliners, is the second-largest privately held distributor in the country; it generates net sales in excess of $6 billion. The Rosemont, Ill., company has 26 distribution centers servicing independent restaurants, healthcare, education and other segments. Its biggest chain customers include Burger King, Subway, and Five Guys.

The company was founded in 1972 and has been owned by Reyes Holdings since 2005, a period in which the distributor grew to $6 billion in sales from $1.6 billion. The deal is subject to regulatory approvals.