Cheney Brothers: Food Distribution Powerhouse with an Enduring Legacy#
How Much Are Cheney Brothers Worth?#
- Estimated net worth: $3.2 billion
- Acquired by Performance Food Group in 2024 for $2.1 billion
- Annual revenue: $3.2 billion
- 3,600 employees
- Strong presence in the Southeast region
- Serving independent restaurants, healthcare facilities, and schools
Key Players and Ownership#
- Owned and operated by the Cheney family for decades
- Acquired by Performance Food Group in August 2024
- Byron Russell, CEO of Cheney Brothers, expressed enthusiasm about the merger
Erfolgsgeschichte#
- Legacy in the grocery business since the 1960s
- Expanded into wholesale food distribution in the 1980s
- Grew through strategic acquisitions
- Focus on customer service and efficiency
- Leadership in the independent restaurant market
Expansion and Growth Potential#
- Acquisition by Performance Food Group expanded reach in the Southeast
- Increased distribution capacity
- Low penetration of private brands offers growth opportunities
- Growing foodservice industry presents potential for continued success
Importance of Family Businesses#
- Enduring power and longevity of family businesses
- Commitment to customer service and adapting to changing market
- Legacy as food distribution titans likely to continue for generations
Additional Key Points#