Chefs' Warehouse(NASDAQ) CHEF

Chefs' Warehouse delivers food to professional kitchens. It helps chefs find specialty meat and cheese. This service simplifies inventory for independent restaurants.

What Is on the Menu?

• Center-of-the-Plate: Custom cut beef, seafood, and hormone-free poultry; accounts for 39.7% of net sales.
• Dry Goods: Essential cooking staples like oils, flour, and sugar; represents 15.7% of net sales.
• Pastry and Chocolate: Specialized ingredients for bakeries and chocolatiers; makes up 13.8% of net sales.
• Produce: Fresh fruits and vegetables for menu-driven businesses; contributes 13.2% of net sales.
• Cheese and Charcuterie: Artisan meats and specialty cheeses from around the world; accounts for 6.5% of net sales.

Scaling the Kitchen

• Acquired Italco Food Products in October 2025 to increase specialty distribution reach in Colorado.
• Extended a $100 million share repurchase program for ten years in February 2026.
• Modified a senior secured term loan in January 2026 to reduce interest rate expenses.
• Increased specialty category sales through 5.7% organic growth in case volume during Q1 2026.

The Professional Edge

The company manages a portfolio of 50,000 to 90,000 different products to meet the diverse needs of high-end culinary professionals. Its distribution network reaches 23 geographic markets across the United States, Canada, and the Middle East.

By the Numbers

• Net sales reached $1.1 billion in Q1 2026, up 11.4% from the previous year.
• Net income hit $17.4 million in Q1 2026, a 68.8% increase compared to Q1 2025.
• Operating income rose to $33.1 million in Q1 2026, up 45.7% year-over-year.
• Free cash flow was $30.6 million in Q1 2026, down 17.9% from the $37.2 million reported in Q1 2025.

The Final Course

Chefs' Warehouse has evolved from a specialty niche supplier into a broad-scale distributor for the fine dining market. Its focus on high-quality ingredients and strategic acquisitions supports its role as a key partner for professional kitchens.