What did Performance Food Group pay for Cheney Brothers Inc.?

Performance Food Group acquired Cheney Brothers Inc. for $2.10B in 2024 (9.9x EBITDA), equivalent to 0.66x revenue. Target revenue was approximately $3200.0M. Target EBITDA was approximately $212.0M.

What multiple did Performance Food Group pay for Cheney Brothers Inc.?

9.9x EBITDA and 0.66x revenue, based on disclosed deal value of $2.10B and disclosed financials.

M&A TRANSACTION · 2024

Cheney Brothers Inc. acquired by Performance Food Group

$2.10B· 9.9x EBITDA· 0.66x revenue

Target

Cheney Brothers Inc.

Riviera Beach, FL

Regional foodservice distributor in Southeastern United States

Acquirer

Performance Food Group

Strategic buyer

Disclosed financials at time of acquisition

Revenue

$3200.0M

EBITDA

$212.0M

Deal Value

$2.10B

EV/EBITDA

9.9x

Context

This $2.10B acquisition of Cheney Brothers Inc. by Performance Food Group sits in the food distribution sub-vertical. The 9.9x EBITDA multiple paid in 2024 can be compared against the population median for food distribution transactions of similar size on our Food Distribution valuation hub. Performance Food Group is acquiring as a strategic buyer; see how strategic acquirers typically price food distribution businesses on our Food Distribution strategic buyer-pool page.

Source

Data sourced from Performance Food Group Press Release — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2024). Cheney Brothers Inc. acquired by Performance Food Group. https://exitvalue.ai/deals/cheney-brothers-inc-acquired-by-performance-food-group-distribution