FTC Seeks More Info On Performance's $2B Food Service Deal
By Anne Cullen (October 2, 2019, 3:46 PM EDT) -- The Federal Trade Commission has asked Virginia-based food distributor Performance Food Group for more details on its plan to take over Reyes Holdings' food-service business in a deal worth $2 billion, a move likely to push the transaction timeline into early 2020.
In disclosing the commission's decision Tuesday, Performance said its proposed pick up of Reinhart Foodservice — the food-service distribution business of Reyes Holdings LLC — could wind up closing in early 2020, despite its earlier prediction that the deal would wrap by the end of this calendar year.
"PFG and Reinhart remain excited about the pending acquisition, and PFG will...
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