Executives said the company’s “Performance Food Group One” strategy—aimed at cross-segment growth in foodservice, convenience, and specialty distribution—is paying off despite a still uneven recovery.
The company has eliminated 13,000 SKUs in Europe this year to reduce product complexity and is expanding its salvage business.
US Foods confirmed recent reports that it had approached rival Performance Food Group about a potential merger, though PFG has not shown interest.
One bright spot was the company’s cloud-based technology services, which continued to grow steadily as more dental offices adopt modern practice management platforms.
Rising logistics costs, growth investments in its multi-family housing channel, and technology upgrades pushed expenses higher.
In the first half of 2025, total revenue reached $980.5 million, up from $855.6 million in the first half of 2024.
SiteOne completed the acquisition of Green Trade Nursery during the quarter and closed two more deals—Grove Nursery and Nashville Nursery—after the quarter ended.
The company’s largest strategic accounts continued to lead growth, while transactional and lower-retention customers saw a decline.
For the first half of the year, Snap-On’s total sales were $2.33 billion, down slightly from $2.34 billion in the same period last year.
While the systems are back online, the attack took a toll on the company’s bottom line.