Chef's Warehouse Acquires Certain Assets Of Martin Preferred Foods For Undisclosed Sum

Chef's Warehouse Inc CHEF has acquired certain assets of Martin Preferred Foods, based in Houston, Texas, for an undisclosed sum.
Martin Preferred Foods is a processor and distributor of food products, providing marinated proteins, seafood, specialty and imported groceries, beef, fine cheeses, chicken, pork, and other products.
"This acquisition offers The Chefs' Warehouse the opportunity to continue to build upon our success in the Texas market. We are thrilled to be in a position to bring the Allen Brothers brand to our local customers in Texas," said Chairman and CEO Christopher Pappas.
It held cash and equivalents of $146.9 million as of June 25, 2021.
Price Action: CHEF shares are trading lower by 1.88% at $33.66 on the last check Monday.