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Free Hospitality Publications
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Restaurant Industry News
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Monday August 6th, 2007 |
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Performance Food Group Announces Customer Agreement with O'Charley's Inc.
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Performance Food Group (Nasdaq/NGS:PFGC) announced that the Company has entered into an agreement with O'Charley's Inc. to be the exclusive distributor for O'Charley's and Stoney River restaurants. |
Performance Food Group anticipates the new business roll-out will be completed in the fourth quarter of 2007 and will add approximately $200 million in annualized revenue. The Company currently expects to incur startup costs in the third and fourth quarters of this year as a result of the added business.
'We anticipated the addition of new business in our customized segment in the second half of 2007, and we are pleased to announce this agreement with O'Charley's Inc.,' commented Steven L. Spinner, president and chief executive officer of Performance Food Group. 'O'Charley's is recognized for its emphasis on fresh high quality foods. Performance Food Group is known for its customized distribution capabilities, including handling perishables and other specialized needs. Clearly it's a great opportunity for both companies.'
Gregory L. Burns, chairman and chief executive officer of O'Charley's Inc. added, 'When we decided to evaluate our supply chain alternatives, we wanted to select the best in breed. We believe that Performance Food Group will be a valued business partner in servicing our distribution needs.'
Performance Food Group markets and distributes more than 68,000 national and private label food and food-related products to over 41,000 restaurants, hotels, cafeterias, schools, healthcare facilities and other institutions.
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