Performance Food Group Inc (PFG) plans to acquire Institution Food House Inc (IFH) from Alex Lee Inc. The acquisition brings together two major foodservice distribution companies to enhance service and offerings to customers in the Carolinas and the surrounding area.
IFH is a $600 million foodservice distributor based in Hickory NC with an additional location in Florence SC. Founded in 1966, it is the largest independent foodservice distributor based in the Carolinas and has about 700 employees.
The transaction is expected to close in mid-June. When it does, IFH employees will have the opportunity to transition to PFG’s health and welfare programs.
George Holm, president and chief executive officer of PFG, said, “We are very pleased to be able to combine our highly complementary companies to strengthen our presence in the Southeast and to extend our product offerings to all of their customers.”
Gerald Davis, chairman and president IFH, said, “The joining of PFG and IFH will enable both to be better companies. We have every confidence that this acquisition will be beneficial for our employees, our loyal customers, and our suppliers.”
PFG is the parent company of a family of foodservice distributors: Performance Foodservice, Vistar, and PFG Customized Distribution. Through these three segments, it delivers more than 94,000 food and food-related products to more than 115,000 independent and national chain restaurants, quick-service eateries, pizzerias, theaters, schools, hotels, healthcare facilities, and other institutions via its 64 distribution centers and 12 Merchant’s Mart locations across the United States.
IFH’s clients range from fine dining establishments to casual restaurants, quick-serve restaurants, hotels, school systems, and healthcare providers. It has approximately 6,000 customers concentrated in North and South Carolina, Virginia, and Georgia.
For more information, visit www.pfgc.com.