Performance Food Group Company (PFGC), a food and foodservice distribution company, said Monday that it has mutually agreed with US Foods to end the previously announced information-sharing process and will no longer pursue a potential business combination.
"Following a comprehensive evaluation of regulatory considerations and synergies related to a potential business combination with US Foods, with the assistance of our independent financial and legal advisors, we have decided to terminate discussions," said George Holm, Chairman and Chief Executive Officer of PFG.
The company reaffirmed its second-quarter as well as full fiscal-year 2026 outlook. For the second quarter of fiscal 2026, PFG continues to expect net sales of approximately $16.4 billion to $16.7 billion. Analysts, on average, forecast $16.54 billion. Analysts' estimates typically exclude special items.
PFG also reiterated its expectation for second-quarter adjusted EBITDA of about $450 million to $470 million.
For fiscal 2026, the company maintains its net sales outlook of roughly $67.5 billion to $68.5 billion, compared with the current consensus estimate of $67.79 billion. Adjusted EBITDA is expected to be in the range of $1.9 billion to $2.0 billion.
Performance Food Group shares were down 0.67% in pre-market trading after closing at $96.65 on Friday, a gain of 2.49%.
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