The Chefs' Warehouse, Inc. acquired substantially all of the assets of Sid Wainer & Son, Inc. for approximately $50.5 million.
January 26, 2020
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The Chefs' Warehouse, Inc. (NasdaqGS:CHEF) acquired substantially all of the assets of Sid Wainer & Son, Inc. for approximately $50.5 million on January 27, 2020. Under the terms, The Chefs' Warehouse paid $46.45 million in cash at closing and is subject to a customary working capital true-up. The Chefs' Warehouse is required to pay additional contingent consideration, if earned, of up to $4 million over a two-year period upon successful attainment of certain gross profit targets. Pursuant to the transaction, the Wainer Family and the entire Sid Wainer & Son organization will join The Chefs' Warehouse, Inc.
The Chefs' Warehouse, Inc. (NasdaqGS:CHEF) completed the acquisition of substantially all of the assets of Sid Wainer & Son, Inc. on January 27, 2020.
The Chefs' Warehouse, Inc. is a distributor of specialty food products in the United States, the Middle East and Canada. The Company offers stock-keeping units (SKUs), ranging from specialty foods and ingredients to basic ingredients and staples, produce and center-of-the-plate proteins. Its product categories include center-of-the-plate, dry goods, pastry, cheeses and charcuterie, produce, dairy and eggs, oils and vinegars and kitchen supplies. It operates through the food product distribution segment, which is concentrated primarily in the United States. The Companyâs customer base consists primarily of menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolateries, cruise lines, casinos and specialty food stores. Its center-of-the-plate products include custom cut beef, seafood and hormone-free poultry, as well as produce and food products, such as cooking oils, butter, eggs, milk and flour.
THE CHEFS' WAREHOUSE, INC. 
