Well­spring sell­ing 5M Per­for­mance Food shares

Richmond Times-Dispatch - - BUSINESS RTD -

Well­spring Cap­i­tal Man­age­ment is sell­ing 5 mil­lion shares of Per­for­mance Food Group Co. stock for $28.40 per share, ac­cord­ing to reg­u­la­tory fil­ings on Thurs­day.

Well­spring is Per­for­mance Food’s largest share­holder with a 15.6 per­cent stake, hold­ing more than 16.3 mil­lion shares. Once the of­fer­ing is com­pleted on Mon­day, Well­spring will own about 10.8 per­cent of Per­for­mance Food’s stock, the fil­ings show.

Per­for­mance Food, the na­tion’s third-largest food­ser­vice sup­plier, con­ducted an ini­tial pub­lic of­fer­ing of its stock in Oc­to­ber 2015.

Well­spring will re­ceive all of the pro­ceeds from this cur­rent of­fer­ing. Per­for­mance Food will not re­ceive any pro­ceeds.

Per­for­mance Food mar­kets and dis­trib­utes about 150,000 food and food-re­lated prod­ucts to chain and in­de­pen­dent restau­rants, schools, hos­pi­tals, vend­ing dis­trib­u­tors and big-box re­tail­ers.

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