RICHMOND, Va. – Performance Food Group, the third largest foodservice distributor in the United States, announced the terms of its initial public offering on the New York Stock Exchange.

PFG plans to raise $341 million through the company’s offering of 14.5 million shares, including 1.7 million for selling shareholders, in a price range of $22 to $25. The company plans to list on the NYSE under the ticker symbol PFGC. Credit Suisse, Barclays, Wells Fargo Securities and Morgan Stanley are acting as joint book-running managers for the offering. Blackstone Capital Markets, BB&T Capital Markets, Guggenheim Securities and Macquarie Capital are acting as co-managers for the offering.

PFG markets and distributes approximately 150,000 food and food-related products through its family of foodservice distributors — Performance Foodservice, Vistar and PFG Customized. The company operates 68 distribution centers that serve more than 150,000 customers, which include chain restaurants, vending distributors, hospitals, big box retailers and theaters, among other outlets. PFG reported sales of $15.3 billion for the 12 months ended June 30.

The company planned to acquire US Foods facilities in 11 markets as part of an agreement by US Foods to divest assets before merging with Sysco. The Sysco-US Foods merger failed, and Sysco was required to pay PFG $12.5 million under terms of the merger agreement.