Performance Food Group Company’s $388 Million Secondary Offering

Simpson Thacher represented Performance Food Group Company (NYSE: PFGC) (the “Company”) and selling stockholders affiliated with The Blackstone Group L.P. (“Blackstone”) in connection with a public offering of common stock by certain selling stockholders (the “Selling Stockholders”).

The Selling Stockholders sold 14,092,206 shares of common stock in the offering. The Selling Stockholders received all the net proceeds from the offering. Following the closing of this offering, Blackstone will have substantially completed the exit from its investment in the Company.

Goldman Sachs & Co. LLC acted as sole underwriter for the offering.

Through its family of leading foodservice distributors – Performance Foodservice, Vistar and PFG Customized – the Company markets and distributes approximately 150,000 food and food-related products from 77 distribution centers to over 150,000 customer locations across the United States. The Company’s 13,000+ associates serve a diverse mix of customers, from independent and chain restaurants to schools, business and industry locations, hospitals, vending distributors, office coffee service distributors, big box retailers and theaters. The Company sources its products from more than 5,000 suppliers and serves as an important partner to its suppliers by providing them access to the Company’s broad customer base.

The Simpson Thacher team included Igor Fert, Lisa Zhang (Picture), Maya Reeves and Evan Zinaman (Capital Markets); Gary Mandel and Drew Purcell (Tax); Greg Grogan and Jeannine McSweeney (Executive Compensation and Employee Benefits); and James Rapp and Amanda Weiss (Public Company Advisory Practice). Summer Associate Brian Kloeblen also provided valuable assistance.

Involved fees earner: Igor Fert – Simpson Thacher & Bartlett; Lisa Zhang – Simpson Thacher & Bartlett; Maya Reeves – Simpson Thacher & Bartlett; Evan Zinaman – Simpson Thacher & Bartlett; James Rapp – Simpson Thacher & Bartlett; Amanda Weiss – Simpson Thacher & Bartlett; Gary Mandel – Simpson Thacher & Bartlett; Andrew Purcell – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Blackstone; Performance Food Group;

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Author: Ambrogio Visconti