April 30, 2012

The Chefs' Warehouse, Inc. Acquires Praml International, LTD.

The Company Solidifies Market Position in Las Vegas With Strategic Acquisition

RIDGEFIELD, Conn., April 30, 2012 (GLOBE NEWSWIRE) -- The Chefs' Warehouse, Inc. (Nasdaq:CHEF), a premier distributor of specialty food products in the United States, announced today that it has acquired Praml International, LTD. ("Praml"), a leading specialty foods importer and foodservice distributor located in Las Vegas, NV, which services customers in Las Vegas, NV and Reno, NV.

"We are very excited to expand our business platform in the Las Vegas market and are delighted to reinforce our current team with the experience and dedication of the employees at Praml," said Christopher Pappas, Chief Executive Officer of The Chefs' Warehouse, Inc. "Praml provides an array of unique products combined with the market expertise and strong customer relations that make this a fantastic opportunity to continue our growth strategy."

"We are very excited to align our business with The Chefs' Warehouse platform," said Heidi and Rudi Putze, former co-owners of Praml. "We are incredibly grateful to our dedicated staff, our loyal customers, and our passionate vendors, who worked together to make Praml what it is today. The Chefs' Warehouse represents a great cultural fit and has the vision and tools to take Praml to the next level."

Praml was founded in 1987 and serves over 500 customer locations. GSV Advisors acted as exclusive financial advisor to Praml in this transaction.

About The Chefs' Warehouse, Inc.

The Chefs' Warehouse, Inc. (http://www.chefswarehouse.com) is a premier distributor of specialty food products in the United States 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 and specialty food stores. The Chefs' Warehouse, Inc. carries and distributes more than 16,700 products to more than 9,800 customer locations throughout the United States.

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 the current economic environment, changes in disposable income levels and consumer discretionary spending on food-away-from-home purchases; the Company's vulnerability to economic and other developments in the geographic markets in which it operates; the risks of supply chain interruptions due to lack of long-term contracts, severe weather or more prolonged climate change, work stoppages or otherwise; the risk of loss of customers due to the fact that the Company does not customarily have long-term contracts with its customers; changes in the availability or cost of the Company's specialty food products; the ability to effectively price the Company's specialty food products and reduce the Company's expenses; the relatively low margins of the foodservice distribution industry and the Company's sensitivity to inflationary pressures; the Company's ability to successfully identify, obtain financing for and complete acquisitions of other foodservice distributors and to realize expected synergies from those acquisitions; increased fuel costs and expectations regarding the use of fuel surcharges; the loss of key members of the Company's management team and the Company's ability to replace such personnel; and the strain on the Company's infrastructure and resources caused by its growth. 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. The Company is not undertaking to update any information in the foregoing reports 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 Relations

         Don Duffy/Dara Dierks, (718) 684-8415



         Media Relations

         Ted Lowen, (646) 277-1238
Source: The Chefs' Warehouse

News Provided by Acquire Media


Close window | Back to top

Copyright 2014 Chef Warehouse