RIDGEFIELD, Conn., Nov. 7, 2011 (GLOBE NEWSWIRE) -- The Chefs' Warehouse, Inc. (Nasdaq:CHEF), a premier distributor of specialty food products in the United States, today announced that it has acquired substantially all the assets of Provvista Specialty Foods, Inc., a leading specialty foods importer and wholesale distributor located in Portland, OR, which services the Portland, OR and Seattle, WA metropolitan areas.

"We are thrilled to be entering the Portland and Seattle markets and are pleased to welcome the employees at Provvista into The Chefs' Warehouse family. Chefs, caterers, hotels, gourmet shops, and fine grocery stores alike appreciate Provvista's unique product mix and knowledgeable service so this acquisition is a great fit," said Chris Pappas, chairman and chief executive officer of The Chefs' Warehouse, Inc.

"We are very excited to bring Provvista's business to The Chefs' Warehouse platform," said Joe Guth, founder of Provvista. "We are incredibly grateful to our dedicated staff, our loyal customers, and our passionate vendors, who worked together to make Provvista what it is today. The Chefs' Warehouse is a great cultural fit and has the vision and tools to take this business to the next level." 

Provvista, which was founded in 1993, services over 500 customer locations in the Portland, OR and Seattle, WA metropolitan areas. Provvista had annual revenue in 2010 of approximately $17 million.

About The Chefs' Warehouse

The Chefs' Warehouse, Inc. (http://www.chefswarehouse.com) is a premier distributor of specialty food products in the United States focused on serving the specific needs of chefs who own and/or operate some of the nation's leading menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools and specialty food stores. The Chefs' Warehouse, Inc. carries and distributes more than 11,500 products to more than 7,500 customer locations throughout the United States.

Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the Company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties and are based on current expectations and management estimates; actual results may differ materially. The risks and uncertainties which could impact these statements include, but are not limited to, the Company's sensitivity to general economic conditions, including the current economic environment, changes in disposable income levels and consumer discretionary spending on food-away-from-home purchases; the Company's vulnerability to economic and other developments in the geographic markets in which it operates; the risks of supply chain interruptions due to lack of long-term contracts, severe weather or more prolonged climate change, work stoppages or otherwise; changes in the availability or cost of the Company's specialty food products; the ability to effectively price the Company's specialty food products and reduce the Company's expenses; the relatively low margins of the foodservice distribution industry and the Company's sensitivity to inflationary pressures; the Company's ability to successfully identify, obtain financing for and complete acquisitions of other foodservice distributors and to realize expected synergies from those acquisitions; increased fuel costs and expectations regarding the use of fuel surcharges; the loss of key members of the Company's management team and the Company's ability to replace such personnel; and the strain on the Company's infrastructure and resources caused by its growth. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company is not undertaking to update any information in the foregoing reports until the effective date of its future reports required by applicable laws. Any projections of future results of operations are based on a number of assumptions, many of which are outside the Company's control and should not be construed in any manner as a guarantee that such results will in fact occur. These projections are subject to change and could differ materially from final reported results. The Company may from time to time update these publicly announced projections, but it is not obligated to do so.

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Source: The Chefs' Warehouse

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