Performance Food Group Company (PFGC) Investor Day 2025 summary

Strategic Direction and Business Model

• Focus on being a leading distributor in the food-away-from-home industry, leveraging three collaborative segments under the PFG One platform for growth and efficiency.

• Emphasis on organic sales growth, operational efficiency, and technology, with a decentralized, customer-centric approach.

• Diversified business model across Foodservice, Convenience, and Specialty segments, each contributing significantly to sales and EBITDA.

• Proprietary brands, turnkey solutions, and digital ordering platforms are key differentiators driving customer value and margin growth.

• Serviceable available market estimated at $560B, with a total addressable market of $787B, supporting long-term market share gains.

M&A Strategy and Recent Developments

• Disciplined M&A strategy targets core Foodservice expansion, geographic white space (notably in the West), and operational synergies.

• Recent acquisitions, including Cheney Brothers, José Santiago, and C-B-I, have expanded geographic reach and growth opportunities.

• Integration of acquired companies prioritizes business continuity, resource sharing, and strong local management.

• Proven track record of capturing procurement synergies and volume growth within three years of acquisition.

• M&A pipeline remains robust, with a focus on strategic fit and protecting the core business.

Financial Guidance and Performance

• Achieved 11% net sales CAGR and 18% adjusted EBITDA CAGR from FY2022 to FY2025 TTM, with gross profit CAGR of 6.5%.

• Three-year targets (to 2028): net sales of $73–$75 billion and adjusted EBITDA of $2.3–$2.5 billion.

• FY2025 guidance: net sales of $63–$63.5 billion and adjusted EBITDA of $1.725–$1.75 billion, including Cheney Brothers.

• Plan includes $100–$125 million in procurement savings, 50–60 bps EBITDA margin improvement, and a $500 million share repurchase authorization.

• Capital allocation priorities: CapEx at 70 bps of revenue, deleveraging to 2.5x–3.5x, and continued disciplined M&A.