On the Street -- Performance Buys Somerset
December 9/Food Business Week -- Performance Food Group has announced the acquisition of Somerset Food Service, a broadline foodservice distribution company in Somerset, Kentucky. The transaction is expected to close by the end of December 2009.
Somerset Food Service was founded in 1962 as an independent broadline distributor, specializing in serving the needs of single-unit independent operators as well as multi-unit regional and national chains, schools, and healthcare foodservice operations. The company was acquired by its current owners in 1988, and they employ approximately 130 associates. Somerset Food Service will become one of the Performance Food Group broadline distribution operating companies, operating as "Performance Foodservice - Somerset." Tommy Jones, currently general manager, will become president of Performance Foodservice - Somerset.
George Holm, CEO for Performance Food Group said, "Somerset Food Service has become a very successful company by focusing on providing quality food and timely service to its customers, commitment to its associates, and strong partnerships with its vendors. These values align perfectly with those of Performance Food Group. We are pleased to add such a quality operator to our family of companies."
Mac Pearce, EVP, president and CEO of Performance Foodservice added, "This acquisition underscores our commitment to street sales growth and our focus on creating opportunity for our customers through our brands and service capabilities. Adding Somerset Food Service allows us to expand our presence in Kentucky and surrounding states and brings great opportunities for both organizations. We welcome Tommy Jones and his team and look forward to building on their success."
From the December 21, 2009, Prepared Foods E-dition