BB&T Capital Markets Serves as a Co-Manager on Performance Food Group Company’s Follow-On Offering
BB&T Capital Markets’ Food & Agribusiness Group completed the follow-on offering for Performance Food Group Company (“PFG”), a leading broadline food distributor, in an offering worth $291,000,000.
PFG will not receive any of the proceeds from shares sold in this offering. Selling shareholders include two of the Company’s private equity sponsors Blackstone and Lexington Partners. The Company has granted the underwriters a 30-day option to purchase an additional 1.8 million shares at the public offering price to cover over-allotments.
About the Companies
PFG markets and distributes food and food-related products. The Company offers a range of frozen foods, such as meats; fully-prepared appetizers and entrees; fruits; vegetables; and desserts; and supplies various non-food items, such as paper products, including pizza boxes; disposable napkins; plates; and cups.
Food & Agribusiness
BB&T Capital Markets assists middle market clients across all sectors of the Food & Agribusiness industry. We have established relationships with a wide range of public and private food companies, private equity investors, and other industry participants. As full-service platform, we provide M&A advisory, equity underwriting, debt capital markets, corporate banking, sales and trading, and private capital raising services. Our nationally recognized industry expertise, combined with our best-in-class transaction execution, enables us to maximize outcomes for our corporate and private equity clients.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.