Performance Food says `no basis' to engage with US Foods

[US Foods truck driving on a street]
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Performance Food Group (NYSE:PFGC [https://seekingalpha.com/symbol/PFGC]) said there was "no basis" to engage in information sharing with US Foods (NYSE:USFD [https://seekingalpha.com/symbol/USFD]).

"After careful consideration, the PFG board determined that there was no basis to engage in the information sharing requested by U.S. Foods," Performance Food CEO George Holm said on the company's Q4 earnings call [https://seekingalpha.com/news/4484832-performance-food-group-outlines-67b-68b-2026-sales-target-as-company-pursues-market-share] earlier on Wednesday.

The comments come after US Foods (NYSE:USFD [https://seekingalpha.com/symbol/USFD]) confirmed last Thursday that it had approached Performance Food [https://seekingalpha.com/news/4481412-us-foods-confirms-approaching-performance-food-about-a-deal] (NYSE:PFGC [https://seekingalpha.com/symbol/PFGC]) about exploring the merits of a combination. Performance Food (NYSE:PFGC [https://seekingalpha.com/symbol/PFGC]) has declined to enter any talks, US Foods CEO Dave Flitman said in a statement [https://seekingalpha.com/filing/10277278#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]with the company's Q2 results.

Flitman asked that Performance Food (PFGC [https://seekingalpha.com/symbol/PFGC]) would "simply work together" to explore the merits of a potential deal.

The comments follow after a Bloomberg report last month that US Foods (NYSE:USFD [https://seekingalpha.com/symbol/USFD#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]) was interested in a potential deal with Performance Food [https://seekingalpha.com/news/4466790-performance-food-group-rallies-on-report-of-us-foods-takeover-interest#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews](PFGC [https://seekingalpha.com/symbol/PFGC]). Sources indicated that US Foods (NYSE:USFD [https://seekingalpha.com/symbol/USFD#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]) has been evaluating a deal for several months.

MORE ON PERFORMANCE FOOD GROUP, US FOODS

* Performance Food Group Company (PFGC) Q4 2025 Earnings Call Transcript [https://seekingalpha.com/article/4813196-performance-food-group-company-pfgc-q4-2025-earnings-call-transcript]
* US Foods Holding Corp. (USFD) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4810614-us-foods-holding-corp-usfd-q2-2025-earnings-call-transcript]
* US Foods Holding Corp. 2025 Q2 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4810608-us-foods-holding-corp-2025-q2-results-earnings-call-presentation]
* Performance Food Group outlines $67B-$68B 2026 sales target as company pursues market share gains and new account wins [https://seekingalpha.com/news/4484832-performance-food-group-outlines-67b-68b-2026-sales-target-as-company-pursues-market-share]
* Performance Food Group falls after guidance arrives a tough light [https://seekingalpha.com/news/4484498-performance-food-group-falls-after-guidance-arrives-a-tough-light]