With the New Year just around the corner, Performance Food Group (PFG) is looking to make some new forays of its own through a just-announced acquisition. PFG is moving further into the New England distribution market as it picks up the business of T.F. Kinnealey & Co.
“We expect this acquisition will provide operational synergies as we expand PFG’s presence in New England,” PFG Executive Vice President Jim Hope said, according to Richmond BizSense. “Their customer-service orientation and geographic footprint supports our strategic growth plans and will complement and strengthen our position and product offering in the region.”
T.F. Kinnealey & Co., now to be known as Kinnealey, is a meat processor and distributor based in Brockton, MA, and has serviced the New England retail and fooservice sectors since its founding in 1939. The company will officially operate as Kinnealey, a Performance Group Company, with all 100 people to be retained by PFG.
Last year, Richmond BizSense reported, Kinnealey reported a revenue of around $70 million. The companies look forward to the growth of both business models through the acquisition.
The deal officially closed in October, and Kinnealey was advised in the sale by BB&T Capital Markets.