Grocery & Drug Stores M&A » By The Online Investor Staff, updated Thu., Apr. 18, 10:31 AM
Recent mergers and acquisitions in the Grocery & Drug Stores M&A category.
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Slide #48. The Chefs' Warehouse, Inc. — Michael's Finer Meats, LLC
Acquirer:
The Chefs' Warehouse, Inc. (NASDAQ:CHEF)
Acquiree:
Michael's Finer Meats, LLC
Details:
The Chefs' Warehouse, Inc. has acquired all of the equity securities of Michael's Finer Meats, LLC, an approximately $80 million annual revenue specialty protein distributor located in Columbus, OH. Founded by Michael Bloch in 1962, Michael's distributes an extensive portfolio of custom cut beef, seafood and other center-of-the-plate products to many of the leading restaurants, country clubs, hotels and casinos in Ohio, Indiana, Illinois and western Pennsylvania.
The Chefs' Warehouse distributes specialty food and center-of-the-plate products. Co.'s product portfolio includes stock-keeping units from various suppliers and is comprised of imported and domestic specialty food products, such as artisan charcuterie, specialty cheeses, oils and vinegars, truffles, caviar, chocolate and pastry products. Co. also provides a line of center-of-the-plate products, including custom cut beef, seafood and hormone-free poultry, as well as produce and broadline food products, such as cooking oils, butter, eggs, milk and flour. Additionally, Co. markets certain of its center-of-the-plate products directly to consumers through its mail and e-commerce platform.
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Avg. Broker Rec.
 
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Strong Buy (3.86 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: CHEF Stock Forecast Based on Zacks ABR data; powered by Xignite |
