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The Chef's Warehouse Inc. (NASDAQ: CHEF) is a premier specialty food distributor catering to high-end chefs and culinary professionals for over 30 years. With a robust presence in major metropolitan areas across the United States, Canada, and the Middle East, the company sources and supplies fine food products to top-tier restaurants, hotels, caterers, gourmet stores, culinary schools, and casinos.
The company's extensive product portfolio includes a variety of imported and locally sourced specialty foods such as artisan charcuterie, specialty cheeses, oils, vinegars, hormone-free protein, truffles, caviar, and chocolate, meeting the stringent standards of elite chefs. The Chef's Warehouse operates through a single reporting segment called Food Product Distribution, primarily serving the East, Midwest, and West coasts of the U.S.
In recent financial updates, the company reported strong year-over-year organic revenue growth and adjusted EBITDA in the second quarter of 2023, despite challenges like volatile weather conditions and protein category fluctuations. The third quarter of 2023 saw sequential improvements in business activity, driven by strong growth in customer acquisition and volume growth. The fourth quarter of 2023 showcased increased operating income and higher gross profit margins.
Moreover, the company has entered into a Cooperation Agreement with Legion Partners Asset Management, LLC, signaling a strategic move towards enhancing its operational and financial performance. As part of this agreement, three new independent directors have been appointed to the Board, bringing valuable expertise from various industries.
As of early 2024, The Chef’s Warehouse continued its strong performance with first-quarter results indicating steady revenue growth and sustained customer demand. The company remains focused on delivering high-quality products and exceptional service to its diverse clientele, leveraging its flexible distribution platform for continued growth and success.
Contact: Investor Relations, Jim Leddy, CFO, (718) 684-8415
The Chefs' Warehouse, a leading distributor of specialty food products in North America, will present virtually at the 11th Annual Jefferies Winter Summit on January 25, 2022, at 10:00 a.m. ET. Investors can access the live webcast through the Company’s investor relations website. The Chefs' Warehouse serves over 34,000 customers, including fine dining establishments and culinary schools, distributing more than 55,000 products across the U.S. and Canada.
The Chefs' Warehouse, a leading distributor of specialty food products in North America, announced a virtual presentation at the 2022 ICR Conference on January 11, 2022, starting at 10:00 a.m. ET. Interested investors can access the presentation via the Company’s investor relations website. The Chefs' Warehouse services over 34,000 customers across the U.S. and Canada, distributing more than 55,000 products.
The Chefs' Warehouse, Inc. (NASDAQ:CHEF) has successfully acquired the assets of CGC Holdings, Inc., known as Capital Seaboard, a prominent supplier of produce and seafood in the Mid-Atlantic region. This acquisition aligns with Chefs' Warehouse's strategy to bolster its specialty food distribution capabilities. CEO Christopher Pappas expressed enthusiasm for the integration, emphasizing complementary services that will enhance customer experience. Founded in 1985, Capital Seaboard is recognized for quality and service, strengthening Chefs' Warehouse's market position.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) will virtually present at the Morgan Stanley Virtual Global Consumer & Retail Conference on December 1, 2021, at 2:25 p.m. ET. The Company is a premier distributor of specialty food products in North America, serving over 34,000 customer locations with more than 55,000 products. Interested investors can listen to the presentation via the Company's investor relations website.
The Chefs' Warehouse (NASDAQ:CHEF) has announced a partnership with the Food Education Fund to launch a collaborative Bridge Program beginning in spring 2022. This initiative aims to educate students on the culinary industry and provide mentoring in areas such as food sales and finance. CEO Chris Pappas emphasized the importance of supporting the future leaders in food and hospitality. The Chefs' Warehouse is a leading distributor of specialty food products, serving over 34,000 customer locations in the United States and Canada.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) reported a substantial 90.7% increase in net sales for Q3 2021, totaling $484.3 million compared to $254.0 million in Q3 2020. The company achieved a net income of $3.5 million, up from a net loss of $11.4 million the previous year. Adjusted EPS rose to $0.12, while adjusted EBITDA climbed to $23.4 million. Despite strong sales growth, the company refrained from providing full-year guidance due to economic uncertainties. Operating income improved to 2.2% of net sales.
The Chefs' Warehouse (NASDAQ:CHEF) announced the acquisition of certain assets from Martin Preferred Foods, based in Houston, Texas, to enhance its specialty protein distribution in the region. This strategic move aims to strengthen its presence in the Texas market and expand the Allen Brothers brand offerings. The CEO of Martin Preferred Foods expressed excitement over refocusing on manufacturing value-added proteins post-sale. This acquisition aligns with The Chefs' Warehouse's goal of servicing more chefs with high-quality products.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) plans to announce its financial results for the third quarter ending September 24, 2021, before the market opens on October 27, 2021. A conference call will follow at 8:30 a.m. ET, allowing investors to review the outcomes. This call will be accessible live via the Company’s investor relations website, with an online archive available for 30 days post-event.
The Chefs' Warehouse (NASDAQ:CHEF) has acquired Silver State Meats, enhancing its specialty protein presence in Las Vegas. Founded in 2012, Silver State Meats specializes in high-quality beef, chicken, and pork. This acquisition is projected to generate approximately $20 million in annual net sales. CEO Christopher Pappas emphasized the alignment of values between both companies, aiming to serve top chefs in the Las Vegas area. This strategic move is part of The Chefs' Warehouse’s plan to expand its market influence in the specialty food sector.
The Chefs’ Warehouse, a leading distributor of specialty food products, will participate virtually in Lake Street’s 5th Annual Best Ideas Growth (BIG5) Conference on September 15, 2021. Management will be available for one-on-one meetings throughout the day. Interested parties can contact their sales representatives for meeting arrangements or invitations. The Chefs’ Warehouse serves over 34,000 customer locations across the U.S. and Canada, offering more than 50,000 products tailored for chefs and culinary professionals.
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