The move to sell Reinhart falls under the strategic growth plans of Reyes Holdings Reyes Holdings LLC., a U.S. headquartered foodservice wholesaler and distributor, has reportedly announced the close of sale of Reinhart Foodservice, L.L.C. to Virginia based Performance Food Group Company (PFG). The deal allows Reyes Holdings to follow its strategic growth priorities along with strengthening the firm’s belief towards developing and improving its primary brands and other offerings across the entire business. According to Jude Reyes, Co-Chairman and Founder of Reyes Holdings, the company will continue to focus on growing organically as well as with the help of acquisitions in the year 2020. For the record, after the sale, the total number of employees working under the Reyes Family group of businesses is close to 30,000 with total annual revenues in surplus of USD 30 billion. Reyes Holdings is a prominent foodservice and beverage provider. It produces and supplies leading brands and a wide variety of food and beverages to retailers across the globe. The firm delivers over 1.3 billion cases of beverages and food products from more than 170 locations across the world each year. Reyes Holdings comprises of Reyes Beer Division, the largest beer distribution entity in the U.S. representing craft, import and regional beer brands. The CEO, Chairman and President of PFG, George Holm mentioned that the Reyes family has established a strong business and this deal will allow PFG platform to expand and server a diverse customer base. PFG is a premium customer-centric foodservice distribution company headquartered in Virginia, United States. Established in 1885, PFG has a nationwide network of more than 100 distribution facilities, close to 25,000 employees and thousands of valued suppliers across the nation. With an aim to render satisfactory, reliable and effective services to the customers, the firm delivers superior quality food and food products to more than 200,000 locations such as schools, independent and chain restaurants, healthcare centers, businesses and industries, big-box retailers, theaters, vending distributors and convenience stores. Source Credits: https://finance.yahoo.com/news/reyes-holdings-announces-sale-reinhart-211500906.html
