 991234 Performance Food Group Acquires Meat ProcessorDecember 20, 1999 Richmond, VA - Performance Food Group announced that it has acquired certain assets of Nesson Meat Sales, a privately-owned meat processor based in Norfolk, Virginia. Terms for the acquisition were not announced. Robert C. Sledd, Chairman and Chief Executive Officer of Performance Food Group, remarked, “The operations of Nesson Meat Sales will be merged with Virginia Food Service Group, our existing broadline business unit based in Richmond. The acquisition of Virginia Food Service in mid-1998 established an initial operating base for us in the Central Virginia region, and we expected that there would be opportunities such as this to increase our market penetration. Nesson is a highly regarded operation that supplies Certified Angus Beef and other meats to many leading restaurants and other foodservice operations. Virginia Food Service recently became a Certified Angus Beef distributor for the Central Virginia market. Strengthening custom-cut steaks in our product offering will allow us to broaden our customer base and increase our penetration with existing accounts.” Sledd indicated that Nesson is expected to add approximately $14 million in net sales annually. Performance Food Group reported net sales of $1.6 billion in 1998. “Joining forces with Virginia Food Service and Performance Food Group was a great opportunity for both Nesson's employees and customers,” commented Robert A. Goldwasser, President of Nesson Meat Sales. The combination not only expands our product offering but also adds the Tidewater Virginia region to Virginia Food Service Group's territory. Performance Food Group markets and distributes more than 25,000 national and private label food and food-related products to approximately 20,000 restaurants, hotels, cafeterias, schools, healthcare facilities and other institutions.
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