Nashville, Tenn., January 18, 2008 - Performance Food Group (PFG) announced this morning that it will merge with an affiliate of The Blackstone Group and Wellspring Capital Management in one of the largest transactions announced in 2008 and one of the largest leveraged buyout transactions announced since the credit crunch occurred in late 2007. Bass, Berry & Sims PLC acted as counsel for PFG in the $1.3 billion leveraged buyout. The transaction is at a 42% premium to PFG's trading price at close of day yesterday and PFG shareholders will receive $34.50 in cash for each outstanding share of company common stock. PFG markets and distributes more than 68,000 national and private label food and food-related products to over 41,000 restaurants, hotels, cafeterias, schools, healthcare facilities and other institutions.
Bass, Berry & Sims attorneys Mitch Walker, Jennifer Noonan, Scott Holley and Jamie Wade represented Performance Food Group.
About Bass, Berry & Sims
Bass, Berry & Sims is a law firm of more than 200 attorneys in three Tennessee offices: Nashville, Memphis and Knoxville. Since its inception in 1922, the firm has been involved with many of the major business transactions and significant litigation matters throughout the country. The firm's clients include a broad range of Fortune 500 companies as well as local and regional businesses. For more information, visit www.bassberry.com.
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