Research Desk Line-up: Sysco Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 28, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for The Chefs' Warehouse, Inc. (NASDAQ: CHEF), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=CHEF. The Company announced on August 25, 2017, that it has acquired substantially all the assets of privately owned Fells Point Wholesale Meats ("Fells Point"). Baltimore, Maryland based Fells Point processes, cuts, and preps specialty meat for delivery to fine dining establishments. The financial terms of the acquisition and other terms of the deal were not disclosed by both Companies. For immediate access to our complimentary reports, including today's coverage, register for free now at:
http://protraderdaily.com/register/
Discover more of our free reports coverage from other companies within the Food Wholesale industry. Pro-TD has currently selected Sysco Corporation (NYSE: SYY) for due-diligence and potential coverage as the Company announced on August 14, 2017, its financial results for Q4 FY17 and FY17 which ended on July 01, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Sysco when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CHEF; also brushing on SYY. Go directly to your stock of interest and access today's free coverage at:
http://protraderdaily.com/optin/'symbol=CHEF
http://protraderdaily.com/optin/'symbol=SYY
Details of the acquisition
The acquisition is expected to be accretive to The Chef's Warehouses' earnings for FY18 and add to the Company's annualized net sales by approximately $55 million. The acquisition is in-line to the Company's business strategy of growth via strategic acquisitions. The acquisition would also add to the Company's meat manufacturing and processing capabilities and expand its footprints in the North-East market.
Commenting on the acquisition, Christopher Pappas, Chairman and CEO of The Chefs' Warehouse, Inc. said:
"We believe that this acquisition adds the processing facility needed to grow protein in the North East and even more importantly the expertise to support our nearly 150 sales professionals with over 5,000 customers in the region. Erik and Leo mastered the art of butchering in Europe and honed their craft in the United States. Experts in specialty meat with a focus on quality and service to fine dining establishments, we feel that Fells Point is built on principles that parallel our own."
Erik Oosterwijk, Owner and Co-Founder of Fells Point added:
"Leo and I were both educated in butcher schools in Europe and ultimately brought those skills and passions to Baltimore, MD. Nearly 25 years ago we bought a small place in Little Italy and eventually became one of the leading manufacturers and distributors of high-end meat in the Baltimore area. We look forward to joining Chris, an entrepreneur himself, and the rest of the Chefs' Warehouse team as we all focus on providing our customers the highest quality specialty products and outstanding service."
About Fells Point Wholesale Meats
Fells Point is a manufacturer and distributor of wholesale meat and was founded by Erik Oosterwijk and Leo Pruissen in 1993 in Baltimore, Maryland. Erik and Leo, who are basically from Holland, honed their craft while working in local butcher shops and later by educating themselves at butcher schools in Europe. The Company processes all types of fresh beef, lamb, pork, poultry, and game meats and offers the highest quality of meat products from prime rib to veal to seafood and game meat to restaurants and fine dining establishments in the Baltimore, Maryland and Washington, DC areas. Both owners are passionate and have maintained their commitment to providing quality, service, and consistency to their clients.
About The Chefs' Warehouse
Ridgefield, Connecticut based The Chefs' Warehouse is a specialty food distributor that has been in business for more than 30 years. The Company started sourcing products for high-end chefs and now caters to the finest restaurants, hotels, caterers, and gourmet stores in North America. The Company has a presence in New York City, Washington DC, San Francisco, Los Angeles, Las Vegas, and Miami.
The Company has been growing its business and geographical footprint with strategic acquisitions over the years. In June 2016, the Company acquired Chicago, Illinois based M.T. Food Service, Inc. a wholesale distributor of dairy, produce, specialty and grocery items in the metro Chicago area. In April 2015, the Company completed the acquisition of Del Monte Capitol Meat Co. and its affiliated Companies for approximately $191.2 million. Del Monte is a supplier of high quality, USDA inspected beef, pork, lamb, veal, poultry and seafood products to Northern California. In October 2014, the Company acquired Beltsville, Maryland-based Euro Gourmet Inc., a wholesale specialty distributor of imported and domestic products along the East Coast.
Last Close Stock Review
The Chefs' Warehouse's share price finished last Friday's trading session at $17.95, advancing 5.28%. A total volume of 198.29 thousand shares have exchanged hands, which was higher than the 3-month average volume of 179.49 thousand shares. The Company's stock price skyrocketed 12.54% in the last three months, 18.87% in the past six months, and 57.32% in the previous twelve months. Additionally, the stock surged 13.61% since the start of the year. Shares of the Company have a PE ratio of 37.79 and currently have a market cap of $449.47 million.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
