FTC Clears Performance's $2B Food Service Deal

By Bryan Koenig (December 23, 2019, 3:53 PM EST) -- The Federal Trade Commission has signed off on Virginia-based food distributor Performance Food Group's $2 billion takeover of Reyes Holdings' food service business, Performance has announced.

Performance touted the FTC's approval Friday, stating that it expects to close the deal "on or about December 30, 2019." Those plans contrast with Performance's statements from early October, when it disclosed that extra FTC scrutiny could push the purchase of Reinhart Foodservice into early 2020 from original predictions that the deal would wrap up by the end of 2019.

"We are pleased to receive FTC approval to move forward with our acquisition of Reinhart...

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