Company: CHEF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036589
Chunk: 28

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 28
---
 April 20, 2025, and we made the final principal payment of $5.0 million during the twenty-six weeks ended June 27, 2025. Previously, we made a scheduled principal payment of $5.0 million towards the GreenLeaf Note during the twenty-six weeks ended June 28, 2024. The GreenLeaf Note is presented at December 27, 2024 under the caption “Finance leases and other financing obligations” in the table above.

In November 2023, we announced a two-year share repurchase program in an amount up to $100.0 million, targeting $25.0 million to $100.0 million of share repurchases by the end of fiscal 2025. During the twenty-six weeks ended June 27, 2025, we repurchased 159,982 shares of our common stock at an average purchase price of $62.51 per share. During the twenty-six weeks ended June 28, 2024, we repurchased 264,076 shares of our common stock at an average purchase price of $37.86 per share. The share repurchases were funded by our available cash. The remaining share purchase authorization was $72.6 million at June 27, 2025. We are not obligated to repurchase any specific number of shares and may suspend or discontinue the program at any time.

20

Liquidity

The following table presents selected financial information on liquidity: 

June 27, 2025December 27, 2024Cash and cash equivalents$96,866 $114,655 Working capital(1), excluding cash and cash equivalents346,710 327,992 Availability under asset-based loan facility163,388 146,674 

(1) We define working capital as current assets less current liabilities.

We expect our capital expenditures, excluding cash paid for acquisitions, for fiscal 2025 will be approximately $40.0 million to $50.0 million. We believe our existing balances of cash and cash equivalents, working capital and the availability under our asset-based loan facility, are sufficient to satisfy our working capital needs, capital expenditures, debt service and other liquidity requirements associated with our current operations over the next twelve months.

Cash Flows

The following table presents selected financial information on cash flows: 

Twenty-Six Weeks EndedJune 27, 2025June 28, 2024Net cash provided by operating activities$64,069 $60,226