Performance Food Group, the third-largest US foodservice distributor LBO'd by Blackstone, announced terms for its IPO on Monday.
The Richmond, VA-based company plans to raise $341 million by offering 14.5 million shares at a price range of $22 to $25. At the midpoint of the proposed range, Performance Food Group would command a fully diluted market value of $2.4 billion.
Performance Food Group, which was founded in 1875 and booked $15.3 billion in sales for the 12 months ended June 30, 2015, plans to list on the NYSE under the symbol PFGC. Credit Suisse, Barclays, Wells Fargo Securities and Morgan Stanley are the joint bookrunners on the deal. It is expected to price on September 30, 2015.
