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3rd-largest US food distributor Performance Food Group prices IPO at $19, well below the range

Performance Food Group, the third-largest US foodservice distributor, raised $276 million by offering 14.5 million shares (12% insider) at $19, well below the range of $22 to $25. At its offer price, Performance Food Group will have a fully diluted market cap of $2.0 billion and an enterprise value of $3.2 billion. The company, which was LBO'd by Blackstone, will list on the NYSE under the symbol PFGC. Credit Suisse, Barclays, Wells Fargo Securities and Morgan Stanley acted as lead managers on the deal.

The article 3rd-largest US food distributor Performance Food Group prices IPO at $19, well below the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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