financetom
Business
financetom
/
Business
/
Performance Food to buy foodservice distributor Cheney Bros for $2.1 bln
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Performance Food to buy foodservice distributor Cheney Bros for $2.1 bln
Aug 14, 2024 4:18 AM

Aug 14 (Reuters) - Performance Food Group Company ( PFGC )

said on Wednesday it would acquire Florida-based

foodservice distributor Cheney Bros for $2.1 billion in cash,

bolstering its presence in Southeastern U.S.

The deal is expected to close in 2025, the company said, and

is anticipated to add to adjusted earnings per share by the end

of the first full fiscal year.

Cheney had annual sales of more than $3 billion and has

operated since 1925.

(Reporting by Granth Vanaik in Bengaluru; Editing by Sriraj

Kalluvila)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
CrowdStrike is sued by shareholders over huge software outage
CrowdStrike is sued by shareholders over huge software outage
Jul 31, 2024
July 31 (Reuters) - CrowdStrike ( CRWD ) has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the July 19 global outage that crashed more than 8 million computers. In a proposed class action filed on Tuesday night in the Austin, Texas federal court, shareholders said they learned...
Arm Holdings outlook disappoints Wall Street, shares dive 9%
Arm Holdings outlook disappoints Wall Street, shares dive 9%
Jul 31, 2024
-Chip designer Arm Holdings on Wednesday set a revenue forecast in line with Wall Street targets, disappointing investors used to rosier outlooks by the company's rivals in the era of artificial intelligence. Shares fell 9% after hours. They had climbed more than 90% this year, and closed up 8.4% on Wednesday, following an optimistic report by AMD. For the current...
Western Digital sees first-quarter revenue below estimates on weak demand for data storage products
Western Digital sees first-quarter revenue below estimates on weak demand for data storage products
Jul 31, 2024
July 31 (Reuters) - Western Digital Corp ( WDC ) forecast first-quarter revenue below Wall Street estimates on Wednesday, signaling a slower-than-expected recovery in the company's data storage products. The AI boom has helped some memory chipmakers such as Micron technology in the middle of a steep industry downturn, but the demand for chips used in conventional data centers continues...
Riot Platforms Reports Worse-Than-Expected Q2 Results: Details
Riot Platforms Reports Worse-Than-Expected Q2 Results: Details
Jul 31, 2024
Riot Platforms, Inc. ( RIOT ) reported its second-quarter financial results after Wednesday’s closing bell. Here's a look at the details from the report.  The Details: Riot Platforms ( RIOT ) reported quarterly losses of 32 cents per share, which missed the analyst consensus estimate of losses of 14 cents by 128.57%. Quarterly revenue came in at $70.018 million, missing...
Copyright 2023-2026 - www.financetom.com All Rights Reserved