Family-owned Cheney Brothers to be sold for $2.1 billion

Author: Nancy Semon, Gulfshore Business
Published: Updated:
Credit: Brian Tietz

Food distribution company Cheney Brothers Inc., which operates a 427,000-square-foot distribution complex in Punta Gorda and other distribution centers and enterprises in the Southeast, agreed to sell its holdings to Richmond, Virginia-based Performance Food Group Co. for $2.1 billion, company officials said. 

Cheney Brothers generates approximately $3.2 billion in annual revenue, providing food and food service to a diverse range of customers, including independent restaurants, restaurant chains, hotels, country clubs, institutional groups and other food service operators. 

PFG had net sales of $57.3 billion for fiscal year 2023, up 12.5% from the prior year. It is one of the largest food-related distribution companies in North America with more than 150 locations, delivering products to more than 300,000 including independent and chain restaurants, businesses, schools and health care facilities, vending and office coffee service distributors, big box retailers, theaters and convenience stores. 

To read more at Gulfshore Business, click here.

Copyright ©2024 Fort Myers Broadcasting. All rights reserved.

This material may not be published, broadcast, rewritten, or redistributed without prior written consent.