The Chefs’ Warehouse Acquires Nicola Imports
June 16 2021 - 4:30PM
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF), a premier distributor of
specialty food products in North America, today announced that it
has acquired substantially all of the assets of Nicola Imports,
based in Phoenix, Arizona. Since its inception in 2007, Nicola
Imports has been a staple purveyor of the finest specialty food
products available in Arizona and Colorado.
“We are thrilled to welcome Nick Bramini, Jayson
James and the Nicola Imports team into our growing family of
companies. This acquisition is particularly exciting as it deepens
the company’s commitment to serving the growing Arizona market and
marks our entry into Denver, which has been a long-term objective
of our company,” stated Christopher Pappas, CEO of the Chefs’
Warehouse.
Since inception in 1985, The Chefs’ Warehouse
has been purveying high-quality, luxury, artisan, local and
specialty products for the best restaurants in North America.
“We are very excited to join the Chefs’
Warehouse as our combined businesses will create a larger platform
from which we can better serve our customers and support the
long-term growth of both our employees and vendor partners” said
Nick Bramini, Founder and CEO of Nicola Imports.
About The Chefs’ Warehouse
The Chefs’ Warehouse, Inc.
(http://www.chefswarehouse.com) is a premier
distributor of specialty food products in the United States and
Canada focused on serving the specific needs of chefs who own
and/or operate some of the nation's leading menu-driven independent
restaurants, fine dining establishments, country clubs, hotels,
caterers, culinary schools, bakeries, patisseries, chocolatiers,
cruise lines, casinos and specialty food stores. The Chefs’
Warehouse, Inc. carries and distributes more than 55,000 products
to more than 34,000 customer locations throughout the United States
and Canada.
Forward-Looking Statements
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: Statements in this press
release regarding the Company’s business that are not historical
facts are “forward-looking statements” that involve risks and
uncertainties and are based on current expectations and management
estimates; actual results may differ materially. The risks and
uncertainties which could impact these statements include, but are
not limited to, the Company’s sensitivity to general economic
conditions, including disposable income levels and changes in
consumer discretionary spending; the Company’s ability to expand
its operations in its existing markets and to penetrate new markets
through acquisitions; the Company may not achieve the benefits
expected from its acquisitions, which could adversely impact its
business and operating results; the Company may have difficulty
managing and facilitating its future growth; conditions beyond the
Company’s control could materially affect the cost and/or
availability of its specialty food products or center-of-the-plate
products and/or interrupt its distribution network; the Company’s
increased distribution of center-of-the-plate products, like meat,
poultry and seafood, involves increased exposure to price
volatility experienced by those products; the Company’s business is
a low-margin business and its profit margins may be sensitive to
inflationary and deflationary pressures; because the Company’s
foodservice distribution operations are concentrated in certain
culinary markets, the Company is susceptible to economic and other
developments, including adverse weather conditions, in these areas;
fuel cost volatility may have a material adverse effect on the
Company’s business, financial condition or results of operations;
the Company’s ability to raise capital in the future may be
limited; the Company may be unable to obtain debt or other
financing, including financing necessary to execute on our
acquisition strategy, on favorable terms or at all; and the
Company’s business operations and future development could be
significantly disrupted if it loses key members of its management
team. Any forward-looking statements are made pursuant to the
Private Securities Litigation Reform Act of 1995 and, as such,
speak only as of the date made. A more detailed description of
these and other risk factors is contained in the Company’s most
recent annual report on Form 10-K filed with the Securities and
Exchange Commission (“SEC”) on March 1, 2019 and
other reports filed by the Company with the SEC since that date.
The Company is not undertaking to update any information in the
foregoing report until the effective date of its future reports
required by applicable laws. Any projections of future results of
operations are based on a number of assumptions, many of which are
outside the Company’s control and should not be construed in any
manner as a guarantee that such results will in fact occur. These
projections are subject to change and could differ materially from
final reported results. The Company may from time to time update
these publicly announced projections, but it is not obligated to do
so.
Contact:Investor RelationsJim Leddy, CFO, (718)
684-8415
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