Parent company of Eby-Brown providing financial initiatives, community support,
RICHMOND, Va. — Performance Food Group (PFG) Co., the parent company of convenience-store distributor Eby-Brown Co., Naperville, Ill., has taken several actions to protect its company and retail partners amid the COVID-19 pandemic, ranging from customer and community support to long-term financial initiatives.
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PFG has partnered with 13 new retailers, bringing its total new retail partners to date to 23. The company is now sharing 1,100 associates with these partners and has distributed groceries to roughly 1,000 retailers, it said.
The company is also producing a webinar series that offers insights on liquidity, employee management and business strategy. Also, PFG is providing online resources to help customers secure small-business loans and access safety training courses. PFG has also expanded its partnerships with local food banks to decrease growing food insecurity during the pandemic.
“During the COVID-19 pandemic, we have made important decisions to protect the organization,” said George Holm, chairman, president and CEO of PFG. “Many of these moves are opening new lines of business and providing important resources to the communities and customers we serve.”
PFG has furloughed or eliminated about 3,000 employees to protect its long-term finances. It has also deferred 25% of senior management’s base compensation and 25% of board of directors’ cash fees through the end of 2020.
“There are other decisions that are difficult for any company to make, but necessary during challenging times,” Holm said. “We are confident that we have taken the appropriate steps and look forward to a time when we can resume a more normal operating environment.”
Performance Food Group, based in Richmond, Va., has a nationwide network of about 75 distribution centers and more than 5,000 suppliers. It markets and delivers food and related products to more 150,000 locations, including independent and chain restaurants, schools, business and industry locations, healthcare facilities, vending distributors, office coffee service distributors, big-box retailers and theaters. Divisions include Performance Foodservice, PFG Customized and Vistar.
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