Performance Food shareholders OK deal with Blackstone, Wellspring Capital affiliate

By Lisa Kerner

Charlotte, N.C., May 14 - Performance Food Group Co. shareholders voted to approve the company's merger with a wholly owned subsidiary of an affiliate of Blackstone Group and Wellspring Capital Management LLC at a special meeting on Wednesday.

Preliminary results indicate that of the approximately 27.7 million shares voted, 27.6 million, or 99.8% of the total voting shares, were in favor of the deal, a Performance Food news release said.

The merger transaction will be structured as a combination of Performance Food and Vistar Corp., a Denver-based foodservice distributor controlled by affiliates of Blackstone and Wellspring Capital, a prior news release stated.

In January, Performance Food, a Richmond, Va., restaurant food distributor, agreed to be acquired in a transaction valued at $1.3 billion, or $34.50 per share.

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