Hot Features
Premium
Register for real-time alerts, custom portfolio, and market movers
Acquisition increases foothold in Mid-Atlantic region
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 Euro Gourmet Inc., based in Beltsville, Maryland.
Founded in 1999, Euro Gourmet is a wholesale specialty distributor of imported and domestic products along the East Coast.
“We are pleased to welcome Euro Gourmet to our growing family,” said Christopher Pappas, Chairman and Chief Executive Officer of The Chefs’ Warehouse, Inc. “The Chefs’ Warehouse entered the Mid-Atlantic region in 2005 through the migration of top NY-based chefs and restaurateurs into the area. We’ve continued to grow in the region organically and through the previous acquisition of American Gourmet Foods. The addition of Euro Gourmet both strengthens our existing employee base and complements our already extensive Mid-Atlantic product selection.”
“Both The Chefs’ Warehouse and Euro Gourmet were founded on the idea that our customers deserve high quality products at an affordable price and we strive every day to make that happen. Joining forces will only help us further improve and thrive in this endeavor,” said Francesco Marra, President and CEO of Euro Gourmet Inc.
Euro Gourmet Inc. is expected to generate approximately $5.0 million in annualized net sales in 2014. Terms of the transaction were not disclosed.
The Chefs’ Warehouse, Inc. is a 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, patisseries, culinary schools and specialty food stores. The Chefs’ Warehouse, Inc. carries and distributes more than 30,000 products to more than 20,000 customer locations throughout the United States and Canada.
