Performance Food Group to Buy Own Shares

Aug. 13–Performance Food Group Co. expects to buy 10.2 million shares of its stock as part of a modified Dutch auction.

The Richmond-based food-service company plans to pay $29.75 per share for the stock, spending roughly $304 million.

The deadline to tender shares was Thursday evening.

The number of shares was greater than initially expected, the company said. Performance said it intends to purchase additional shares without extending the tender offer.

The tender offer is part of Performance’s plan to return capital to shareholders from its $855 million sale of the fresh-cut produce segment to Chiquita Brands International Inc.

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