US Foods Holding (USFD) announced on Monday that it has entered into a $250 million accelerated share repurchase agreement under its existing authorization and that its board has approved a new $1 billion share repurchase authorization.

US Foods also said it has mutually agreed with Performance Food Group (PFGC) to terminate the information-sharing process and will not pursue a potential combination.

US Foods reaffirmed its fiscal 2025 outlook, as previously provided earlier this month. The company also reiterated its 2025 to 2027 long-range plan, including a 5% net sales compound annual growth rate or CAGR and 20% adjusted diluted EPS CAGR.