US Foods agreed to acquire Watertown, New York-based Renzi Foodservice

US Foods agrees to acquire Renzi Foodservice

Renzi first acquisition by US Foods since April 2020

US Foods agreed to acquire Watertown, New York-based Renzi Foodservice. The acquisition of Renzi Foodservice will set the stage for greater penetration by US Foods in upstate New York. This is US Foods’ first acquisition under Dave Flitman, the broadliner’s chief executive.

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Commercial foodservice customer traffic, to restaurants + other foodservice outlets, ended 2022 flat versus last year

Foodservice customer traffic in 2022 flat compared to 2021: NPD

Convenience-store foodservice traffic a bright spot within overall industry

US commercial foodservice customer traffic, both to restaurants and other foodservice outlets, ended 2022 flat versus last year. This data point portends a more positive outlook for 2023, according to research from The NPD Group. With regard to spending (sales), that was up 4% due to higher prices.

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US Foods named Dave Flitman chief executive officer (CEO) effective January 5

US Foods names Dave Flitman CEO

Executive from Builders FirstSource comes to US Foods with heavy manufacturing, distribution experience

US Foods named Dave Flitman chief executive officer effective January 5, 2023. Flitman comes to US Foods from Builders FirstSource, and brings to the broadline foodservice distributor 35 years of manufacturing and distribution expertise, including food distribution. He will also join the US Foods Board of Directors.

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US Foods will open four new Chef’Store locations, including in Merced and Santa Cruz, Calif., and Helena, Mont. and Winston-Salem, N.C.

US Foods Chef’Stores to open in Merced, Santa Cruz, Helena, Winston-Salem

Merced, Santa Cruz to grow California portfolio to 17 units; Helena, Montana to be third store in state; Winston-Salem, second in North Carolina

US Foods will open four new Chef’Store locations, including in Merced and Santa Cruz, Calif., and Helena, Mont. and Winston-Salem, N.C. The cash-and-carry type stores help restaurant operators, food industry pros and a variety of chefs and groups stock up on foodservice supplies, whether by the case or in individual sizes.

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US Foods announced that Pietro Satriano has stepped down as CEO as per a cooperation agreement with Sachem Head Capital Management

Sachem Head cooperation agreement with US Foods boots CEO Pietro Satriano

Activist investment firm strikes deal to install three directors, remove CEO Pietro Satriano

US Foods announced that Pietro Satriano has stepped down as CEO upon the request of the Board of Directors, as per a cooperation agreement with Sachem Head Capital Management. Satriano will not be standing for re-election to the board, either, and is leaving the company. This is the latest chapter in the months-long proxy fight between US Foods and Sachem Head, its largest investor, which took an activist position. At one time, Sachem Capital had attempted to install its own CEO.

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The National Restaurant Association’s Restaurant, Hotel-Motel Show 2022 will take place May 21-24, 2022 at McCormick Place in Chicago

2022 National Restaurant Show in Chicago adds 500 new exhibitors

Winsight readies show, taking place May 21-24 at its home in McCormick Place

The National Restaurant Association’s Restaurant, Hotel-Motel Show 2022 will take place May 21-24, 2022 at McCormick Place in Chicago. The show host, Winsight Exhibitions, is readying a national foodservice event with more than 500 new exhibitors creating a total of 1,000 exhibitors.

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Performance Food Group (PFG) promoted Craig Hoskins to president and chief operating officer

PFG promotes Craig Hoskins to president, chief operating officer

Patrick Hagerty promoted to PFG EVP, chief commercial officer

Performance Food Group (PFG) promoted Craig Hoskins to president and chief operating officer, charged with PFG’s Foodservice and Vistar operations. PFG also promoted Patrick Hagerty to the role of EVP and chief commercial officer. The expansion of their roles is part of a realignment of the company’s reporting structure. It will now better match PFG’s strategy for growth across business units, the broadline distributor announced.

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Performance Food Group (PFG) agreed to acquire Core-Mark, one of the top distributors in the convenience-store channel, with revenues of $17B

PFG agrees to acquire Core-Mark in $2.5B cash-and-stock deal to expand in c-store channel

Mammoth transaction adds 7,500 employees, 32 distributions centers, premium fresh-prepared foods

Performance Food Group (PFG) agreed to acquire Core-Mark, one of the top distributors in the convenience-store channel, with revenues of $17B and $211M in adjusted EBITDA. The transaction, valued at $2.5B, will be funded through cash and stock: PFG will offer $23.75 in cash and 0.44 PFG shares for each share of CORE to Core-Mark existing shareholders.

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