Performance Food Group

One of the nation's leading food distributors.

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Headquarters: 12500 West Creek Parkway
Richmond, VA 23238
Employees: 11,000
CEO: Bob Sledd
Stock Symbol: PFGC

Website: http://www.pfgc.com

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Performance Food Group is one of the nation's leading food service distributors, delivering more than 64,000 food items to about 44,000 customers from every kind of eatery coast-to-coast.

PFG has 19 distribution companies that operate in various parts of the country, from Maine to Miami, the Great Lakes to the Gulf Coast. It distributes a broad array of more than 64,000 national and proprietary brand food and related products such as baked goods, seafood, the choicest cuts of USDA meats, and even condiments and cleaning supplies.

Customers range from independent restaurants and hotels to healthcare facilities, schools and quick-service eateries. PFG serves all 50 states and 41 countries. Chain store clients include Burger King, McDonald's, Taco Bell, KFC, Wal-Mart, Albertson's, Safeway, Burger King, Kroger's, Subway, Sonic, Outback Steakhouse, Cracker Barrel and Ruby Tuesday.

In fiscal 2004, PFG reported record revenues of $6.1 billion and net earnings of $52.5 million.

History

Performance Food Group's earliest roots can be traced to 1875, when a food brokerage and distribution company was formed in Richmond, VA. Its focus was distributing canned fruits and vegetables for grocery stores and restaurants throughout the mid-Atlantic. By the mid 1980's, the fastest-growing division was Pocahontas Foods, a marketing group of 70+ members who distributed thousands of Pocahontas brand products to restaurants and other foodservice outlets across the USA.

The dream of Performance Food Group was born in 1987, when Pocahontas Foods merged with Caro Foods in Houma, LA. Soon after, in 1988, the Kenneth O. Lester Company in Lebanon, TN joined the partnership.

More food distributors joined PFG. In response to increasing business, the Customized division was formed to serve major customers like Cracker Barrel and Outback Steakhouse. In 1993, PFG went public, trading on the NASDAQ, and continues to add new distributors to its ever-growing family still today.

Since 1993, more than a dozen distribution companies have joined Performance Food Group from New Jersey, Maine, Arkansas, Illinois, Texas, and Georgia.

Benefits

Health Care Programs
Associates have the opportunity to choose the level and type of medical coverage that best suits their needs. The levels of coverage are designed to meet various family structures. Each medical coverage type offers an array of services, but differs in co-payments, deductibles, out-of-pocket maximum amounts and employee contributions. The medical program also includes a prescription drug benefit and mail-in prescription plan. On your behalf, we take an active role in working with and monitoring the third-party administrators of the healthcare plans.
 
Dental Plan
Performance Food Group offers dental coverage to our associates in the event they or their dependents need dental services. The plan allows associates to choose a provider of their choice and is therefore  comprised of both in-network and out-of-network providers. Dental coverage includes preventive, basic, major and orthodontia dental services. Due to various family structures, associates are able to choose which plan best suits the family coverage they need.

Vision
Performance Food Group offers a comprehensive vision plan. An associate can choose the level of vision coverage they need for themselves and/or their family. Annual eye examinations, contact lenses, glasses and LASIK and PRK vision correction procedures are covered services.

Life Insurance
To further provide resources when developing a financial protection plan, our company offers Life Insurance benefits to our associates. Performance Food Group provides Life Insurance and Accidental Death and Dismemberment benefits at no cost to our associates. Associates are also given the opportunity to purchase supplemental life insurance and additional accidental death and dismemberment insurance for themselves and their dependents.

Short Term Disability (STD)
To provide financial protection if one of our associates is disabled due to injury or illness, Performance Food Group provides a Short Term Disability Plan. The STD plan provides a portion of continued wages if an associate covered by the STD benefit is unable to work due to illness or injury for a maximum duration of 26 weeks.

Long Term Disability (LTD)
Long Term Disability benefits are offered to assist our associates financially if they should experience a disability that prohibits them from returning to work after a measured amount of time. The LTD plan provides a portion of continued wages if a covered associate is unable to work due to illness or injury for a time period that exceeds 181 days.

401(k) Plan
Associates have the option to participate in a tax deferred retirement program through our 401(k) Plan. Although this plan is administered along with the ESOP program, they are separate benefits. Numerous investment options are offered to fit almost any investment style. Performance Food Group matches associate contributions at 4% for the first 4% deferred. Associates also have the option to roll over 401(k) funds from other qualified plans into Performance Food Group's 401(k).

Employee Stock Purchase Plan (ESPP)
The ESPP facilitates associate participation in the ownership and economic progress of the company. The plan enables eligible associates to set aside money through payroll deduction in order to purchase Common Stock from the company at a discounted market price.

Profit Sharing Program
The Profit Sharing Program is another great way to help our associates become an owner in the company. The company contributes a percentage of consolidated pre-tax earnings to the program on an annualized basis, which are used to purchase shares of stock to be allocated to PFG associates.

Employee Assistance Program
Our company understands that associates have situations in which they need confidential resources to assist them. The Employee Assistance Program is a resource associates can take advantage of which is available at no cost to them. Everyone needs a helping hand every now and then.  
 
Continuing Education
Performance Food Group recognizes that educational development is important and necessary to have the best of the best. We encourage our associates to obtain additional education and training in order to increase their competencies in their present jobs as well as prepare for future advancement. Taking college courses and attending seminars are just some of the ways that we support your continuing education and career development.
 
Paid Time Off
Balancing your professional and personal life can be a challenge. We offer programs that assist you with meeting the obligations of both your career and personal obligations. Eligible associates can receive paid time off through vacation, holidays, sick days and personal days.
 
Associate Discount Programs
We offer various discount programs to health clubs, warehouse memberships, amusement parks and other services. These programs vary by location.

Updated September 15, 2005

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