Legion Partners Announces Discussions with The Chef’s Warehouse
January 26, 2017 at 09:00 am
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On January 26, 2017, Legion Partners, LLC viewed that the current market price of the to The Chefs' Warehouse, Inc. shares does not reflect the Company’s intrinsic value and have recommended certain action items that management and the Company’s Board of Directors can take, including, among other things, to adopt a majority vote standard for the election of directors, a phase out of related party transactions, and a refocus of executive compensation on creating sustained long-term value rather than on short term goals. Legion Partners added that it intends to continue discussions with management and the Board regarding its recommendations to maximize the value of the Shares.
The Chefs' Warehouse, Inc. is a distributor of specialty food products in the United States, the Middle East and Canada. The Company offers stock-keeping units (SKUs), ranging from specialty foods and ingredients to basic ingredients and staples, produce and center-of-the-plate proteins. Its product categories include center-of-the-plate, dry goods, pastry, cheeses and charcuterie, produce, dairy and eggs, oils and vinegars and kitchen supplies. It operates through the food product distribution segment, which is concentrated primarily in the United States. The Companyâs customer base consists primarily of menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolateries, cruise lines, casinos and specialty food stores. Its center-of-the-plate products include custom cut beef, seafood and hormone-free poultry, as well as produce and food products, such as cooking oils, butter, eggs, milk and flour.
THE CHEFS' WAREHOUSE, INC. 
