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Thread: Food service company buy out

  1. #1
    Retired !

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    Default Food service company buy out

    Two of the larger food service companies will combine their power into one.
    As with many of the food service giants, some are unionized and others are not.
    I see many of the PFG trucks on the highway all the time. Reinhart, I believe, may service the mid-west, but I have seen their trucks too.

    Performance Food to Buy Rival Supplier Reinhart for $2 Billion
    Performance Food Group Co. agreed to buy Reinhart Foodservice for $2 billion in a combination of U.S. food suppliers.
    Performance, a distributor for retailers and resultants, will buy Reinhart from its owner, Reyes Holdings LLC, in an all-cash deal, the company said in a statement July 1. Together with Reinhart, Performance’s sales will rise to about $30 billion.
    The deal shows how food-service companies are under pressure to consolidate as costs climb. Truckers’ demands for higher wages, for example, have squeezed already low profit margins. By combining with Reinhart, Performance aims to save $50 million in costs annually within three years.
    https://www.ttnews.com/articles/perf...hart-2-billion
    ABFwife likes this.

  2. #2
    Getting In The Groove Now.

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    Default Re: Food service company buy out

    I currently work for RFS(in Taunton, Ma.) that just got bought out. We are union but don't know what's going to happen with our contract ect….. We were told the union contract was "bought also". What ever that means. We currently have a VERY WEAK contract with an even WEAKER local.... Hopefully someone will eventually tell us something but I'll only believe a fraction of what's being told, if that. The morons I work with will believe everything like it's the gospel truth. Well that's the gist of it.
    Last edited by rdmj72; 1 Week Ago at 06:46 PM.

 

 

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