Company: CHEF
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001517175-25-000021
Chunk: 2

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 2
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 week. Our customer count and placements measures are subject to adjustments for acquisitions, consolidations, spin-offs, and other market activity, and we present these measures for historical periods reflecting these adjustments.

Recent Acquisitions

On October 1, 2025, we entered into an asset purchase agreement to acquire substantially all of the assets of Italco Food Products, a premier specialty food distributor based in Denver, Colorado. The purchase price was $16,500, consisting of $5,500 cash paid at closing and $11,000 from the issuance of an unsecured note and is subject to customary working capital true-ups. The assets acquired consist primarily of inventory, accounts receivable and goodwill and other intangibles and are not material to the Company’s consolidated financial statements.

RESULTS OF OPERATIONS

Thirteen Weeks EndedThirty-Nine Weeks EndedSeptember 26, 2025September 27, 2024September 26, 2025September 27, 2024Net sales$1,021,319 $931,452 $3,006,973 $2,760,644 Cost of sales774,128 706,704 2,279,448 2,097,458 Gross profit247,191 224,748 727,525 663,186 Selling, general and administrative expenses208,125 192,894 624,638 578,049 Other operating expenses (income), net130 (28)1,000 3,385 Operating income38,936 31,882 101,887 81,752 Interest expense10,535 11,743 31,503 36,677 Income before income taxes28,401 20,139 70,384 45,075 Provision for income tax expense9,253 6,041 19,707 13,522 Net income$19,148 $14,098 $50,677 $31,553 

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Thirteen Weeks Ended September 26, 2025 Compared to Thirteen Weeks Ended September 27, 2024 

Net Sales

20252024$ Change% ChangeNet sales$1,021,319 $931,452 $89,867 9.6 %

Net sales increased due to organic growth. Case count increased approximately 3.2% in our specialty category, representing an increase in net sales of $18.6 million. In addition, unique customers and