FL Food Distributor Cheney Brothers, Has Annual Sales Of $3 Billion. It Just Sold For $2.1 Billion

Photo byFacebook Screenshot, Cheney Brothers, Inc. Headquarters

August of 2024 has seen some large business transactions in Florida. I've previously written about billionaire Larry Ellison buying the Eue Palm Beach Resort for $277.4 million. And now, another Florida business, Cheney Brothers, has been sold for over $2 billion.

About Cheney Brothers: This food service distributor began in 1925. Today, the fourth generation of the Cheney family runs it. The company makes use of a 2 million square feet of distribution space and has over 3,200 employees.

Cheney Brothers has ranked 5th on South Florida Business Journal's top private companies in South Florida and it earns more than $3 billion in annual revenue.

Employees give Cheney Brothers 3.2 out of 5 stars on Indeed. While some said Cheney Brothers offers a good job for hard workers, others say advancement is limited.

The Sale: In August of 2024, Riviera Beach-based Cheney Brothers was sold to Performance Food Group Co. for $2.1 billion in cash. The companies plan to close the deal in 2025.

Byron Russell, CEO of Cheney Brothers, indicated that the sale would help to strengthen the company, explaining, in part:

"...allow me to express our excitement at the prospect of being part of PFG’s organization. I have watched PFG grow into one of the country’s largest foodservice distributors...I believe this transaction will bring together two winning organizations and create a significant platform for growth. Together, the companies will build upon each other’s strengths and achieve outstanding success in the years ahead.”

The author is not affiliated with Cheney Brothers or any other food distributors.