0001517175-21-000003 | 10-K | XBRL Viewer


Document						Parts Into Which Incorporated
Proxy Statement for the Annual Meeting of Stockholders expected to be held on May 14, 2021 (“Proxy Statement”)						Part III

Entity Central Index Key

0001517175

Amendment Flag

false

Document Fiscal Period Focus

Document Fiscal Year Focus

2020

Common Stock, par value $0.01

Document Information [Line Items]

Title of 12(b) Security

Common Stock, par value $0.01

Trading Symbol

CHEF

Security Exchange Name

NASDAQ

Preferred Stock Purchase Rights

Document Information [Line Items]

Title of 12(b) Security

Preferred Stock Purchase Rights

Trading Symbol

CHEF

Security Exchange Name

NASDAQ

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Current assets:
Cash and cash equivalents	$ 193,281	$ 140,233
Accounts receivable, net of allowance of $24,027 in 2020 and $8,846 in 2019	96,383	175,044
Inventories, net	82,519	124,056
Prepaid expenses and other current assets	33,479	13,823
Total current assets	405,662	453,156
Equipment, leasehold improvements and software, net	115,448	92,846
Operating lease right-of-use assets	115,224	127,649
Goodwill	214,864	197,743
Intangible assets, net	111,717	138,751
Deferred taxes, net	7,535	0
Other assets	3,875	3,534
Total assets	974,325	1,013,679
Current liabilities:
Accounts payable	57,515	94,097
Accrued liabilities	27,924	29,847
Short-term operating lease liabilities	17,167	17,453
Accrued compensation	9,401	8,033
Current portion of long-term debt	6,095	721
Total current liabilities	118,102	150,151
Long-term debt, net of current portion	398,084	386,106
Operating lease liabilities	109,133	120,572
Deferred taxes, net	0	10,883
Other liabilities and deferred credits	4,416	10,034
Total liabilities	629,735	677,746
Commitments and contingencies
Stockholders’ equity:
Preferred Stock - $0.01 par value, 5,000,000 shares authorized, no shares issued and outstanding at December 25, 2020 and December 27, 2019, respectively	0	0
Common Stock, - $0.01 par value, 100,000,000 shares authorized, 37,274,768 and 30,341,941 shares issued and outstanding at December 25, 2020 and December 27, 2019, respectively	373	304
Additional paid in capital	303,734	212,240
Accumulated other comprehensive loss	(2,051)	(2,048)
Retained earnings	42,534	125,437
Total stockholders’ equity	344,590	335,933
Total liabilities and stockholders’ equity	$ 974,325	$ 1,013,679

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Current assets:
Allowance for accounts receivable	$ 24,027	$ 8,846
Stockholders’ equity:
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, authorized (in shares)	5,000,000	5,000,000
Preferred Stock, issued (in shares)	0	0
Preferred Stock, outstanding (in shares)	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, authorized (in shares)	100,000,000	100,000,000
Common Stock, issued (in shares)	37,274,768	30,341,941
Common Stock, outstanding (in shares)	37,274,768	30,341,941

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Income Statement [Abstract]
Net sales	$ 1,111,631	$ 1,591,834	$ 1,444,609
Cost of sales	863,480	1,205,266	1,095,693
Gross profit	248,151	386,568	348,916
Selling, general and administrative expenses	336,394	329,542	298,102
Other operating expenses	14,417	6,359	2,225
Operating (loss) profit	(102,660)	50,667	48,589
Interest expense	20,946	18,264	20,745
(Loss) income before income taxes	(123,606)	32,403	27,844
Provision for income tax (benefit) expense	(40,703)	8,210	7,442
Net (loss) income	(82,903)	24,193	20,402
Other comprehensive income (loss):
Foreign currency translation adjustments	(3)	173	(672)
Comprehensive (loss) income	$ (82,906)	$ 24,366	$ 19,730
Net (loss) income per share:
Basic (in dollars per share)	$ (2.46)	$ 0.82	$ 0.71
Diluted (in dollars per share)	$ (2.46)	$ 0.81	$ 0.70
Weighted average common shares outstanding:
Basic (in shares)	33,716,157	29,532,342	28,703,265
Diluted (in shares)	33,716,157	30,073,338	29,678,919

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment
Balance, beginning (in shares) at Dec. 29, 2017			28,442,208
Balance, beginning at Dec. 29, 2017	$ 248,601		$ 284	$ 166,997	$ (1,549)	$ 82,869
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	20,402					20,402
Stock compensation (in shares)			310,451
Stock compensation	4,094		$ 3	4,091
Conversion of notes (in shares)			1,246,272
Conversion of notes	37,015		$ 13	37,002
Cumulative translation adjustment	(672)				(672)
Shares surrendered to pay withholding taxes (in shares)			(30,448)
Shares surrendered to pay withholding taxes	(764)			(764)
Balance, ending (in shares) at Dec. 28, 2018			29,968,483
Balance, ending at Dec. 28, 2018	308,676	$ (2,027)	$ 300	207,326	(2,221)	103,271	$ (2,027)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	24,193					24,193
Stock compensation (in shares)			329,338
Stock compensation	4,399		$ 3	4,396
Option exercises (in shares)			76,169
Option exercises	1,541		$ 1	1,540
Cumulative translation adjustment	173				173
Shares surrendered to pay withholding taxes (in shares)			(32,049)
Shares surrendered to pay withholding taxes	$ (1,022)			(1,022)
Balance, ending (in shares) at Dec. 27, 2019	30,341,941		30,341,941
Balance, ending at Dec. 27, 2019	$ 335,933		$ 304	212,240	(2,048)	125,437
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(82,903)					(82,903)
Stock compensation (in shares)			500,100
Stock compensation	$ 9,292		$ 5	9,287
Option exercises (in shares)	0
Public offering (in shares)			6,634,615
Public offering	$ 85,941		$ 66	85,875
Cumulative translation adjustment	(3)				(3)
Shares surrendered to pay withholding taxes (in shares)			(201,888)
Shares surrendered to pay withholding taxes	$ (3,670)		$ (2)	(3,668)
Balance, ending (in shares) at Dec. 25, 2020	37,274,768		37,274,768
Balance, ending at Dec. 25, 2020	$ 344,590		$ 373	$ 303,734	$ (2,051)	$ 42,534

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Cash flows from operating activities:
Net (loss) income	$ (82,903)	$ 24,193	$ 20,402
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	19,774	13,328	10,296
Amortization of intangible assets	13,502	12,663	11,910
Provision for allowance for doubtful accounts	21,372	4,981	3,790
Non-cash operating lease expense	689	2,043	770
(Benefit) provision for deferred income taxes	(18,418)	2,063	2,554
Amortization of deferred financing fees	3,426	2,168	3,155
Stock compensation	9,292	4,399	4,094
Change in fair value of contingent earn-out liabilities	(11,479)	5,879	1,448
Intangible asset impairment	24,200	0	0
Loss on asset disposal	151	101	169
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	77,590	(13,213)	(19,466)
Inventories	49,050	(9,439)	(6,330)
Prepaid expenses and other current assets	(18,240)	(1,813)	120
Accounts payable, accrued liabilities and accrued compensation	(46,442)	3,775	13,677
Other assets and liabilities	1,317	(6,121)	(1,507)
Net cash provided by operating activities	42,881	45,007	45,082
Cash flows from investing activities:
Capital expenditures	(7,036)	(16,077)	(19,817)
Cash paid for acquisitions, net of cash received	(60,932)	(28,077)	(13,901)
Proceeds from asset disposals	0	0	30
Net cash used in investing activities	(67,968)	(44,154)	(33,688)
Cash flows from financing activities:
Payment of debt, finance lease and other financing obligations	(40,432)	(1,894)	(49,360)
Proceeds from the issuance of common stock, net of issuance costs	85,941	0	0
Proceeds from debt issuance	0	150,000	0
Payment of deferred financing fees	(856)	(5,082)	(1,502)
Proceeds from exercise of stock options	0	1,541	0
Surrender of shares to pay withholding taxes	(3,670)	(1,022)	(764)
Cash paid for contingent earn-out liabilities	(2,927)	(2,412)	(3,000)
Borrowings under asset based loan facility	100,000	0	47,100
Payments under asset based loan facility	(60,000)	(44,184)	(2,916)
Net cash provided by (used in ) financing activities	78,056	96,947	(10,442)
Effect of foreign currency on cash and cash equivalents	79	23	(46)
Net change in cash and cash equivalents	53,048	97,823	906
Cash and cash equivalents at beginning of year	140,233	42,410	41,504
Cash and cash equivalents at end of year	$ 193,281	$ 140,233	$ 42,410

Operations and Basis of Presentation	12 Months Ended
Operations and Basis of Presentation	Dec. 25, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations and Basis of Presentation	Operations and Basis of Presentation Description of Business and Basis of Presentation The financial statements include the consolidated accounts of The Chefs’ Warehouse, Inc. (the “Company”), and its wholly-owned subsidiaries. The Company’s quarterly periods end on the thirteenth Friday of each quarter. Every six to seven years the Company will add a fourteenth week to its fourth quarter to more closely align its year end to the calendar year. The Company’s business consists of three operating segments: East Coast, Midwest and West Coast that aggregate into one reportable segment, food product distribution, which is concentrated in the United States. The Company’s 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. The COVID-19 Pandemic The COVID-19 pandemic (“Pandemic”) has had a material impact on the Company’s business and operations and those of its customers. In an effort to limit the spread of the virus, federal, state and local governments implemented measures that resulted in the temporary closure of non-essential businesses in many of the markets the Company serves, which has forced its customers in those markets to either transition their establishments to take-out service, delivery service or temporarily cease operations. State and local governments began to ease these restrictions in mid-May, however, the severity of indoor and outdoor dining restrictions have varied throughout the year depending on the extent of outbreaks and actions taken by the federal, state and local governments. The duration and extent of restrictions imposed on the Company’s customers by federal, state and local governments is dependent on future developments regarding the Pandemic including new information about the severity of the disease, trends in infection rates, and development of effective medical treatments for the disease, among others. Due to the Pandemic’s adverse impact on our customers’ operations and purchasing behavior, the Company incurred estimated non-cash charges of approximately $15,800 related to incremental bad debt expense and approximately $14,600 related to incremental inventory obsolescence during the fifty-two weeks ended December 25, 2020. The adverse impact to the Company’s customer base and market capitalization at the onset of the Pandemic were considered triggering events and, accordingly, the Company performed interim goodwill and long-lived asset quantitative impairment tests during the first quarter of 2020, as described in Note 9 to these financial statements, the results of which indicated that goodwill or long-lived assets were not impaired. Consolidation The consolidated financial statements include all the accounts of the Company and its direct and indirect wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Guidance Adopted in Fiscal 2020 Measurement of Credit Losses on Financial Instruments: In June 2016 and as further amended in November 2018, the Financial Accounting Standards Board (the “FASB”) issued guidance which requires entities to use a forward-looking expected loss model to estimate credit losses. It also requires additional disclosure related to credit quality of trade and other receivables, including information related to management’s estimate of credit allowances. The Company adopted this guidance on December 28, 2019. The Company analyzes customer creditworthiness, accounts receivable balances, payment history, payment terms and historical bad debt levels when evaluating the adequacy of its allowance for doubtful accounts. In instances where a reserve has been recorded for a particular customer, future sales to the customer are either conducted using cash-on-delivery terms or the account is closely monitored so that agreed-upon payments are received prior to orders being released. A failure to pay results in held or cancelled orders. The Company also estimates receivables that will ultimately be uncollectible based upon historical write-off experience. Management incorporates current macro-economic factors in existence as of the balance sheet date that may impact the food-away-from-home industry and/or its customers, and specifically, beginning in the first quarter of fiscal 2020, the impact of the Pandemic. Adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. Leases: In April 2020, the FASB issued guidance describing approaches entities should follow when accounting for lease concessions negotiated due to the effects of the Pandemic. The Company has negotiated rent deferrals with certain lessors that do not materially modify the amount of consideration due under the original contract terms. Consistent with the guidance, the Company elected to recognize such rent deferrals as accrued expenses. The Company continues to recognize expense during the deferral period. Guidance Not Yet Adopted Simplifying the Accounting for Income Taxes: In December 2019, the FASB issued guidance that eliminates certain exceptions related to the approach for intraperiod tax allocations, the methodology for calculating income taxes in an interim period and other simplifications and clarifications. The guidance will be effective for fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company expects to adopt this guidance when effective. Upon adoption, the Company may recognize additional income tax benefits during interim periods in which interim losses exceed full year projections due to provisions in the guidance that remove loss limitation rules. Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity: In August 2020, the FASB issued guidance that simplifies the accounting models for financial instruments with characteristics of debt and equity. The amendments in the guidance result in fewer instances in which an embedded conversion feature must be accounted for separately from its host contract. This guidance will be effective for fiscal years beginning after December 15, 2021. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company expects to adopt this guidance on December 26, 2020. The Company’s existing convertible debt instruments are not bifurcated and as such adoption will have no impact on ts consolidated financial statements. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with generally accepted accounting principles requires it to make estimates and assumptions that affect reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities. Estimates are used in determining, among other items, the allowance for doubtful accounts, inventory valuation adjustments, self-insurance reserves for group medical insurance, workers’ compensation insurance and automobile liability insurance, future cash flows associated with impairment testing for intangible assets (including goodwill) and long-lived assets, useful lives for intangible assets, stock-based compensation, contingent earn-out liabilities and tax reserves. Actual results could differ from estimates.

Reclassifications

12 Months Ended

Dec. 25, 2020

Accounting Changes and Error Corrections [Abstract]

Reclassifications

On September 1, 2020, the Company received a comment letter from the staff of the SEC’s Division of Corporation Finance (“SEC”) with respect to the Company’s annual report on Form 10-K for the year ended December 27, 2019, requesting information regarding the Company’s presentation of food processing costs and separate presentation of selling, general and administrative expenses from other operating expenses.

Food Processing Costs

The Company’s food processing costs represent the costs to cut and package products, primarily beef products, for sale to the Company’s customer base. The costs associated with food processing are normally incurred immediately prior to shipment and thus, historically, the Company treated these costs as handling expenses and presented them within operating expenses on its consolidated statements of operations. The Company has also separately disclosed its food processing costs, excluding depreciation expense, in the notes to its annual consolidated financial statements. Upon further consideration and discussions with the SEC, the Company concluded that food processing costs are more fairly presented as cost of sales and such costs should include depreciation expense associated with equipment and facilities used in food processing activities. Accordingly, the Company has reclassified its food processing costs from operating expenses to cost of sales. In accordance with Staff Accounting Bulletin (“SAB”) No. 99 “Materiality,” and SAB No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements”, the Company evaluated the impact of the reclassification and determined that the impact was not material to its consolidated financial statements for any prior annual or interim period. See Note 3 “Summary of Significant Accounting Policies” for a full description of the components of costs of sales and food processing costs.

Selling, General and Administrative Expenses

In response to the SEC’s comment, the Company revised its presentation of total operating expenses such that selling, general and administrative expenses are presented separately from other operating expenses. Furthermore, management has reclassified gain/loss from asset disposal, which was previously presented as a non-operating expense, to other operating expenses. See Note 3 “Summary of Significant Accounting Policies” for a full description of the components of selling, general and

administrative expenses and other expenses.

The aggregate impact of the above reclassifications on prior periods are as follows:


	Fiscal Years Ended
	December 27, 2019						December 28, 2018
	As Reported		Reclass		As Restated		As Reported		Reclass		As Restated
Net sales	$	1,591,834	$	—	$	1,591,834	$	1,444,609	$	—	$	1,444,609
Cost of sales	1,185,481		19,785		1,205,266		1,077,562		18,131		1,095,693
Gross profit	406,353		(19,785)		386,568		367,047		(18,131)		348,916
Operating expenses	355,585		(355,585)		—		318,289		(318,289)		—
Selling, general and administrative expenses	—		329,542		329,542		—		298,102		298,102
Other operating expenses	—		6,359		6,359		—		2,225		2,225
Operating income	50,768		(101)		50,667		48,758		(169)		48,589
Interest expense	18,264		—		18,264		20,745		—		20,745
Loss on asset disposal	101		(101)		—		169		(169)		—
Income before income taxes	32,403		—		32,403		27,844		—		27,844
Provision for income tax expense	8,210		—		8,210		7,442		—		7,442
Net income	$	24,193	$	—	$	24,193	$	20,402	$	—	$	20,402

Summary of Significant Accounting Policies

12 Months Ended

Dec. 25, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Revenue Recognition

Revenues from product sales are recognized at the point at which control of each product is transferred to the customer. The Company’s contracts contain performance obligations which are satisfied when customers have physical possession of each product. The majority of customer orders are fulfilled within a day and customer payment terms are typically 20 to 60 days from delivery, although in response to the Pandemic our credit terms have been temporarily tightened to a maximum of 30 days for the majority of our customers. Shipping and handling activities are costs to fulfill the Company’s performance obligations. These costs are expensed as incurred and presented within selling, general and administrative expenses on the consolidated statements of operations. The Company offers certain sales incentives to customers in the form of rebates or discounts. These sales incentives are accounted as variable consideration. The Company estimates these amounts based on the expected amount to be provided to customers and records a corresponding reduction in revenue. The Company does not expect a significant reversal in the amount of cumulative revenue recognized. Sales tax billed to customers is not included in revenue but rather recorded as a liability owed to the respective taxing authorities at the time the sale is recognized.

The following table presents the Company’s net sales disaggregated by principal product category:


	December 25, 2020				December 27, 2019				December 28, 2018
Center-of-the-Plate	$	533,813	48.0	%	$	711,980	44.7	%	$	629,038	43.5	%
Dry Goods	150,631		13.6	%	260,976		16.4	%	239,326		16.6	%
Pastry	135,913		12.2	%	221,041		13.9	%	199,990		13.8	%
Cheeses and Charcuterie	107,915		9.7	%	158,834		10.0	%	151,640		10.5	%
Produce	80,920		7.3	%	17,955		1.1	%	13,850		1.0	%
Dairy and Eggs	38,172		3.4	%	110,740		7.0	%	106,768		7.4	%
Oils and Vinegars	40,389		3.6	%	80,155		5.0	%	76,313		5.3	%
Kitchen Supplies	23,878		2.2	%	30,153		1.9	%	27,684		1.9	%
Total	$	1,111,631	100	%	$	1,591,834	100	%	$	1,444,609	100	%

The Company determines its product category classification based on how the Company currently markets its products to its customers. The Company’s definition of its principal product categories may differ from the way in which other companies present similar information.

Deferred Revenue

Certain customer arrangements in the Company’s direct-to-consumer business, prepaid gift plans and gift card purchases, result in deferred revenues when cash payments are received in advance of performance. The Company recognizes revenue on its prepaid gift plans when control of each product is transferred to the customer. Performance obligations under the Company’s prepaid gift plans are satisfied within a period of twelve months or less. Gift cards issued by the Company do not have expiration dates. The Company records a liability for unredeemed gift cards at the time gift cards are sold and the liability is reduced when the card is redeemed, the value of the card is escheated to the appropriate government agency, or through breakage. Gift card breakage is estimated based on the Company’s historical redemption experience and expected trends in redemption patterns. Amounts recognized through breakage represent the portion of the gift card liability that is not subject to unclaimed property laws and for which the likelihood of redemption is remote. The Company recorded deferred revenues, reflected as accrued liabilities on the Company’s consolidated balance sheets, of $2,558 and $1,345 as of December 25, 2020 and December 27, 2019, respectively.

Right of Return

The Company’s standard terms and conditions provide customers with a right of return if the goods received are not merchantable. Customers are either issued a replacement order at no cost, or are issued a credit for the returned goods. The Company recorded a refund liability of $174 and $314 as of December 25, 2020 and December 27, 2019, respectively. Refund liabilities are reflected as accrued liabilities on the Company’s consolidated balance sheets. The Company recognized a corresponding asset of $107 and $194 as of December 25, 2020 and December 27, 2019, respectively, for its right to recover products from customers on settling its refund liabilities. This asset is reflected as inventories, net on the Company’s consolidated balance sheets.

Contract Costs

Sales commissions are expensed when incurred because the amortization period is one year or less. These costs are presented within selling, general and administrative expenses on the Company’s consolidated statements of operations.

Cost of Sales

The Company records cost of sales based upon the net purchase price paid for a product, including applicable freight charges incurred to deliver the product to the Company’s warehouse, and food processing costs. Food processing costs include but are not limited to direct labor and benefits, applicable overhead and depreciation of equipment and facilities used in food processing activities. Food processing costs included in cost of sales were $18,682, $19,785 and $18,131 for fiscal 2020, 2019 and 2018, respectively.

Selling, General and Administrative Expenses

Selling, general and administrative expenses include facilities costs, product shipping and handling costs, warehouse costs, and other selling, general and administrative costs. Shipping and handling costs included in selling, general and administrative expenses were $78,152, $85,620 and $79,143 for fiscal 2020, 2019 and 2018, respectively.

Other Operating Expenses

Other operating expenses includes expenses primarily related to changes in the fair value of the Company’s earn-out liabilities, gains and losses on asset disposals, asset impairments and certain third-party deal costs incurred in connection with business acquisitions or financing arrangements.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of less than three months to be cash equivalents. The Company periodically maintains balances at financial institutions which may exceed Federal Deposit Insurance Corporation insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts.

Accounts Receivable

Accounts receivable consist of trade receivables from customers and are recorded net of an allowance for doubtful accounts. The allowance for doubtful accounts is determined based upon a number of specific criteria, such as whether a customer has filed for or been placed into bankruptcy, has had accounts referred to outside parties for collections or has had accounts significantly past due. The allowance also covers short paid invoices the Company deems to be uncollectable as well as a portion of trade accounts receivable balances projected to become uncollectable based upon historic patterns and macro-economic factors in existence as of the balance sheet date that may impact the food-away-from-home industry and/or its customers, and specifically, beginning in the first quarter of fiscal 2020, the impact of the Pandemic.

Inventories

Inventories consist primarily of finished goods, food and related food products held for resale and are valued at the lower of cost or market. Our different entities record inventory using a mixture of first-in, first-out and average cost, which we believe approximates first-in, first-out. The Company adjusts inventory balances for excess and obsolete inventories to approximate their net realizable value.

Vendor Rebates and Other Promotional Incentives

The Company receives consideration and product purchase credits from certain vendors that the Company accounts for as a reduction of cost of sales. There are several types of cash consideration received from vendors. The purchase incentive is primarily in the form of a specified amount per pound or per case, or an amount for year-over-year growth. For the years ended December 25, 2020, December 27, 2019 and December 28, 2018, the recorded purchase incentives totaled approximately $12,678, $21,769 and $19,731, respectively.

Concentrations of Credit Risks

Financial instruments that subject the Company to concentrations of credit risk consist of cash, temporary cash investments and trade receivables. The Company’s policy is to deposit its cash and temporary cash investments with major financial institutions. The Company distributes its food and related products to a customer base that consists primarily of leading menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolateries, cruise lines, casinos and specialty food stores. To reduce credit risk, the Company performs ongoing credit evaluations of its customers’ financial conditions. The Company generally does not require collateral. However, the Company, in certain instances, has obtained personal guarantees from certain customers. There is no significant balance with any individual customer.

Equipment and Leasehold Improvements

Equipment and leasehold improvements are recorded at cost and are depreciated on a straight-line basis over the shorter of the estimated useful life of the asset or the lease term.

Leases

The Company leases various distribution centers, office facilities, vehicles and equipment. The Company determines if an arrangement contains a lease at contract inception. An arrangement is or contains a lease if the agreement identifies an asset, implicitly or explicitly, that the Company has the right to use over a period of time. If an arrangement contains a lease, the Company classifies the lease as either an operating lease or as a finance lease based on the five criteria defined in ASC 842.

Lease liabilities are recognized at commencement date based on the present value of the remaining lease payments over the lease term. The corresponding right-of-use (“ROU”) asset is recognized for the same amount as the lease liability adjusted for any payments made at or before the commencement date, any lease incentives received, and any initial direct costs. The Company’s lease agreements may include options to renew, extend or terminate the lease. These clauses are included in the initial measurement of the lease liability when at lease commencement the Company is reasonably certain that it will exercise such options. The discount rate used is based on the Company’s incremental borrowing rate since the implicit rate in the Company’s leases is not readily determinable.

Operating lease expense is recognized on a straight-line basis over the lease term and presented within selling, general and administrative expenses on the Company’s consolidated statements of operations. Finance lease ROU assets are amortized on a straight-line basis over the shorter of the useful life of the asset or the lease term. Interest expense on the finance lease liability is recognized using the effective interest rate method and is presented within interest expense on the Company’s consolidated

statements of operations. Variable rent payments related to both operating and finance leases are expensed as incurred. The Company’s variable lease payments primarily consist of real estate taxes, maintenance and usage charges. The Company made an accounting policy election to combine lease and non-lease components (maintenance, taxes and insurance) when measuring lease liabilities for vehicle and equipment leases.

The Company has elected to exclude short-term leases from the recognition requirements of ASC 842. A lease is short-term if, at the commencement date, it has a term of less than or equal to one year. Lease expense related to short-term leases is recognized on a straight-line basis over the lease term.

Software Costs

The Company capitalizes certain computer software licenses and software implementation costs that are included in software costs in its consolidated balance sheets. These costs were incurred in connection with developing or obtaining computer software for internal use if it has a useful life in excess of one year, in accordance with Accounting Standards Codification (“ASC”) 350-40 “Internal-Use Software.” Subsequent additions, modifications or upgrades to internal-use software are capitalized only to the extent that they allow the software to perform a task that it previously did not perform. Internal use software is amortized on a straight-line basis over a three to seven year period. Capitalized costs include direct acquisitions as well as software and software development acquired under capitalized leases and internal labor where appropriate. Capitalized software purchases and related development costs, net of accumulated amortization, were $14,087 at December 25, 2020 and $15,203 at December 27, 2019.

Impairment of Long-Lived Assets

Long-lived assets, other than goodwill, are reviewed for impairment in accordance with ASC 360-10-35-15, “Impairment or Disposal of Long-Lived Assets” which only requires testing whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. If any indicators are present, a recoverability test is performed by comparing the carrying amount of the asset to the net undiscounted cash flows expected to be generated from the asset. If the net undiscounted cash flows do not exceed the carrying amount (i.e., the asset is not recoverable), an additional step is performed that determines the fair value of the asset and the Company records an impairment, if any. The adverse impact to the Company’s customer base and market capitalization at the onset of the Pandemic were considered triggering events during the first quarter of fiscal 2020, and accordingly, the Company performed a long-lived asset recoverability test as of March 27, 2020 (more fully described in Note 9) the results of which indicated no impairment. The Company has not recorded any impairment of long-lived assets in fiscal 2020, 2019 or 2018.

Convertible Debt

The Company evaluates debt instruments with embedded conversion features in accordance with ASC 815 “Derivatives and Hedging” and ASC 470 “Debt” both of which provide several criteria that determine whether a conversion feature must be bifurcated from its debt host and accounted as a separate financial instrument. An entity is not required to bifurcate if the conversion feature is indexed to its own stock, meets all equity classification criteria and does not contain a beneficial conversion feature. The Company determined that bifurcation of its convertible debt instruments was not required and recognized the principal amount of these instruments as debt in its consolidated balance sheets.

Debt Issuance Costs

Certain up-front costs associated with the Company’s asset based loan facility are capitalized and included in other non-current assets in the Company’s consolidated balance sheets. The Company had $1,429 and $1,363 of such unamortized costs as of December 25, 2020 and December 27, 2019, respectively. Costs associated with the issuance of other debt instruments are capitalized and presented as a direct deduction from the carrying amount of the underlying debt liability. The Company had $7,172 and $9,207 of such unamortized costs as of December 25, 2020 and December 27, 2019, respectively. These costs are amortized over the terms of the related debt instruments by the effective interest rate method. Amortization of debt issuance costs was $3,426 for the fiscal year ended December 25, 2020, $2,168 for the fiscal year ended December 27, 2019 and $3,155 for the fiscal year ended December 28, 2018, inclusive of a $1,081 write-off of unamortized deferred financing fees as a result of the Company’s term loan debt repricing.

Business Combinations

The Company accounts for acquisitions in accordance with ASC 805 “Business Combinations.” Assets acquired and liabilities assumed are recorded in the accompanying consolidated balance sheets at their estimated fair values, as of the acquisition date.

The excess of the purchase price over the fair values of identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred and presented in other operating expenses in the Company’s consolidated results of operations. Results of operations are included in the Company’s financial statements from the date of acquisition.

Intangible Assets

The intangible assets recorded by the Company consist of customer relationships, covenants not to compete and trademarks which are amortized over their useful lives on a schedule that approximates the pattern in which economic benefits of the intangible assets are consumed. Intangible assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If any indicators are present, a recoverability test is performed by comparing the carrying amount of the asset to the net undiscounted cash flows expected to be generated from the asset. Undiscounted cash flows expected to be generated by the related assets are estimated over the assets’ useful lives based on updated projections. If the evaluation indicates that the carrying amount of the asset may not be recoverable, the potential impairment is measured based on a projected discounted cash flow model. The adverse impact to the Company’s customer base and market capitalization at the onset of the Pandemic were considered triggering events during the first quarter of fiscal 2020, and accordingly, the Company performed a long-lived asset recoverability test as of March 27, 2020 (more fully described in Note 9) the results of which indicated no impairment.

During the fourth quarter of fiscal 2020, the Company recorded a $24,200 impairment charge, $17,545 net of tax, to write-down the value of its Del Monte and Bassian Farms trademarks. See Note 9 for more information. There have been no other events or changes in circumstances during fiscal 2020, 2019 or 2018, indicating that the carrying value of the Company’s finite-lived intangible assets are not recoverable.

Goodwill

Goodwill is the excess of the acquisition cost of businesses over the fair value of identifiable net assets acquired in accordance with ASC 350, “Intangibles-Goodwill and Other.” The Company’s business consists of three operating segments: East Coast, Midwest and West Coast and these operating segments represent our reporting units. The Company evaluates the recoverability of goodwill at each of its reporting units annually in the fourth quarter, or more frequently when circumstances indicate an impairment may have occurred. A goodwill impairment loss, if any, would be recognized for the amount by which a reporting unit’s carrying value exceeded its fair value. The Company has the option to evaluate goodwill impairment using a qualitative or quantitative analysis.

The adverse impact to the Company’s customer base and market capitalization at the onset of the Pandemic were considered triggering events during the first quarter of fiscal 2020, and accordingly, the Company performed an interim goodwill impairment test as of March 27, 2020 (more fully described in Note 9) the results of which indicated no impairment.

For its annual goodwill impairment test performed during the fourth quarter of fiscal 2020, the Company tested goodwill for impairment using a quantitative analysis. The Company estimated the fair value of its reporting units using an income approach and determined the fair value of its reporting units substantially exceeded their respective carry values. The Company’s income approach incorporates the use of a discounted cash flow methodology that involves many management assumptions that are based upon future growth projections which include estimates for the duration of the Pandemic’s impact on the Company’s customers. Assumptions include estimates of future revenue based upon budget projections and growth rates. The Company develops estimates of future levels of gross and operating profits and projected capital expenditures. This methodology includes the use of estimated discount rates based upon industry and competitor analysis as well as other factors. The Company also performed a reconciliation of its market capitalization and the estimate of the aggregate fair value of its reporting units, including consideration of a control premium.

For the fiscal year ended December 27, 2019, the Company assessed the recoverability of goodwill using a qualitative analysis and determined that it is more likely than not that the fair value of its reporting units exceeded their respective carry values. The qualitative analysis considered various factors including macroeconomic conditions, market conditions, industry trends, cost factors and financial performance, among others.

There have been no events or changes in circumstances during fiscal 2020, 2019 or 2018, indicating that goodwill may be impaired.

Employee Benefit Programs

The Company sponsors a defined contribution plan covering substantially all full-time employees (the “401(k) Plan”). The Company recognized expense related to the 401(k) Plan totaling $720, $1,268 and $1,097, respectively, for fiscal 2020, 2019 and 2018.

Income Taxes

The Company accounts for income taxes in accordance with ASC 740, “Income Taxes.” Deferred tax assets or liabilities are recorded to reflect the future tax consequences of temporary differences between the financial reporting basis of assets and liabilities and their tax basis at each year-end. These amounts are adjusted, as appropriate, to reflect enacted changes in tax rates expected to be in effect when the temporary differences reverse. The Company estimates its ability to recover deferred tax assets within the jurisdiction from which they arise. This evaluation considers several factors, including results of recent operations, future taxable income, scheduled reversal of deferred tax liabilities, and tax planning strategies. As of December 25, 2020 and December 27, 2019, the Company had valuation allowances of $2,261 and $907, respectively, relating to certain net operating losses that may not be realizable in the future based on taxable income forecasts and certain state net operating loss limitations.

The Company follows certain provisions of ASC 740, “Income Taxes” which established a single model to address accounting for uncertain tax positions and clarifies the accounting for income taxes by prescribing a minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. The Company evaluates uncertain tax positions, if any, by determining if it is more likely than not to be sustained upon examination by the tax authorities. The Company records uncertain tax positions when it is estimable and probable that such liabilities have been incurred. The Company, when required, will accrue interest and penalties related to income tax matters in income tax expense. The Company releases disproportionate tax effects from accumulated other comprehensive income as individual items are liquidated.

Commitments and Contingencies

The Company is subject to various claims and contingencies related to lawsuits, taxes and environmental matters, as well as commitments under contractual and other commercial obligations. The Company recognizes liabilities for contingencies and commitments when a loss is probable and can be reasonably estimated.

Contingent Earn-out Liabilities

The Company accounts for contingent consideration relating to business combinations as a liability and an increase to goodwill at the date of the acquisition and continually remeasures the liability at each balance sheet date by recording changes in the fair value through the consolidated statements of operations. The Company determines the fair value of contingent consideration based on future operating projections under various potential scenarios, including the use of Monte Carlo simulations, and weighs the probability of these outcomes. The ultimate settlement of contingent earn-out liabilities relating to business combinations may be for amounts which are materially different from the amounts initially recorded and may cause volatility in the Company’s results of operations.

Stock-Based Compensation

The Company measures stock-based compensation at the grant date based on the fair value of the award. Restricted stock awards (“RSAs”) and performance share units are valued based on the fair value of the stock on the grant date. The related compensation expense is recognized over the service period on a straight-line basis and reduced by forfeitures when they occur. Compensation expense on performance share units reflects the estimated probable outcome at the end of the performance period. The fair value of stock options and RSAs with market conditions is determined based on a Monte Carlo simulation in order to simulate a range of possible future stock prices for the Company’s common stock. For awards subject to graded vesting, the Company ensures that the compensation expense recognized is at least equal to the vested portion of the award.

Self-Insurance Reserves

The Company maintains a self-insured group medical program. The program contains individual stop loss thresholds of $275 per incident and aggregate stop loss thresholds based upon the average number of employees enrolled in the program throughout the year. The amount in excess of the self-insured levels is fully insured by third party insurers. Liabilities associated with this program are estimated in part by considering historical claims experience and medical cost trends. Projections of future loss expenses are inherently uncertain because of the random nature of insurance claims occurrences and

could be significantly affected if future occurrences and claims differ from these assumptions and historical trends.

The Company maintains an insurance program for its automobile liability and workers’ compensation insurance subject to deductibles or self-insured retentions of $500 per occurrence. The amounts in excess of the deductibles are fully insured by third party insurers. Liabilities associated with this program are estimated in part by considering historical claims experience and cost trends. Projections of future loss expenses are inherently uncertain because of the random nature of insurance claims occurrences and could be significantly affected if future occurrences and claims differ from these assumptions and historical trends.

Assets and Liabilities Measured at Fair Value

The Company accounts for certain assets and liabilities at fair value. The Company categorizes each of its fair value measurements in one of the following three levels based on the lowest level input that is significant to the fair value measurement in its entirety:

Level 1 - Inputs to the valuation methodology are unadjusted quoted prices in active markets for identical assets.

Level 2 - Observable inputs other than quoted prices in active markets for identical assets and liabilities include the following:

a)quoted prices for similar assets in active markets;

b)quoted prices for identical or similar assets in inactive markets;

c)inputs other than quoted prices that are observable for the asset; and

d)inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If the asset has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset.

Level 3 - Inputs to the valuation methodology are unobservable (i.e., supported by little or no market activity) and significant to the fair value measure.

Net Income per Share

12 Months Ended

Dec. 25, 2020

Earnings Per Share [Abstract]

Net Income per Share

The following table sets forth the computation of basic and diluted earnings per share:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Net (loss) income per share:
Basic	$	(2.46)	$	0.82	$	0.71
Diluted	$	(2.46)	$	0.81	$	0.70
Weighted average common shares:
Basic	33,716,157		29,532,342		28,703,265
Diluted	33,716,157		30,073,338		29,678,919

Reconciliation of net income per common share:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Numerator:
Net (loss) income	$	(82,903)	$	24,193	$	20,402
Add effect of dilutive securities:
Interest on convertible notes, net of tax	—		207		362
Adjusted net (loss) income	$	(82,903)	$	24,400	$	20,764
Denominator:
Weighted average basic common shares outstanding	33,716,157		29,532,342		28,703,265
Dilutive effect of stock options and unvested common shares	—		211,050		270,520
Dilutive effect of convertible notes	—		329,946		705,134
Weighted average diluted common shares outstanding	33,716,157		30,073,338		29,678,919

Potentially dilutive securities that have been excluded from the calculation of diluted net income per common share because the effect is anti-dilutive are as follows:


	Fiscal Year Ended
	December 25, 2020	December 27, 2019	December 28, 2018
Restricted share awards	505,568	132,861	42
Stock options	115,639	—	—
Convertible notes	3,484,788	76,384	—

Fair Value Measurements

12 Months Ended

Dec. 25, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Assets and Liabilities Measured at Fair Value

The Company’s contingent earn-out liabilities are measured at fair value. These liabilities were estimated using Level 3 inputs. The fair value of contingent consideration was determined based on a probability-based approach which includes projected results, percentage probability of occurrence and the application of a discount rate to present value the payments. A significant change in projected results, discount rate, or probabilities of occurrence could result in a significantly higher or lower fair value measurement. The Pandemic’s impact on the Company’s revenue growth and profitability resulted in a significant reduction in the fair value of its contingent earn-out liabilities. The Company the value of Changes in the fair value of contingent earn-out liabilities are reflected in other operating expenses on the Company’s consolidated statements of operations.

The following table presents the changes in Level 3 contingent earn-out liabilities:


	Del Monte		Fells Point		Bassian		Sid Wainer		Other Acquisitions		Total
Balance December 28, 2018	$	—	$	3,649	$	—	$	—	$	1,441	$	5,090
Acquisition value	—		—		7,450		—		479		7,929

Cash payments	(200)		(3,000)		—		—		(1,000)		(4,200)
Changes in fair value	200		3,895		507		—		1,277		5,879
Balance December 27, 2019	—		4,544		7,957		—		2,197		14,698
Acquisition value	—		—		—		2,081		1,383		3,464

Cash payments	—		—		(2,250)		—		(1,677)		(3,927)
Changes in fair value	—		(4,544)		(4,631)		(1,570)		(734)		(11,479)
Balance December 25, 2020	$	—	$	—	$	1,076	$	511	$	1,169	$	2,756

In May 2019, the Company fully settled its Del Monte earn-out liability for $200. The long-term portion of contingent earn-out liabilities was $2,556 and $7,957 as of December 25, 2020 and December 27, 2019, respectively, and are reflected as other

liabilities and deferred credits on the Company’s consolidated balance sheets. The remaining short-term portion of earn-out liabilities are reflected as accrued liabilities on the Company’s consolidated balance sheets. Contingent earn-out liability payments in excess of the acquisition date fair value of the underlying contingent earn-out liability are classified as operating activities on the Company’s consolidated statements of cash flows and all other such payments are classified as financing activities.

Fair Value of Financial Instruments

The carrying amounts reported in the Company’s consolidated balance sheets for accounts receivable and accounts payable approximate fair value due to the immediate to short-term nature of these financial instruments. The fair values of the asset based loan facility and term loan approximated their book values as of December 25, 2020 and December 27, 2019 as these instruments had variable interest rates that reflected current market rates available to the Company.

The following table presents the carrying value and fair value of the Company’s convertible notes (more fully described in Note 10). In estimating the fair value of its convertible notes, the Company utilized Level 3 inputs including prevailing market interest rates to estimate the debt portion of the instrument and a Black Scholes valuation model to estimate the fair value of the conversion options. The Black Scholes model utilizes the market price of the Company’s common stock, estimates of the stock’s volatility and the prevailing risk free interest rate in calculating the fair value estimates.


	December 25, 2020				December 27, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Convertible Senior Notes	$	150,000	$	163,204	$	150,000	$	165,000
Convertible Unsecured Note	$	4,000	$	4,290	$	4,000	$	4,282

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Acquisitions

12 Months Ended

Dec. 25, 2020

Business Combinations [Abstract]

Acquisitions

Sid Wainer

On January 27, 2020, pursuant to an asset purchase agreement, the Company acquired substantially all of the assets, including certain real-estate assets, of Sid Wainer & Son (“Sid Wainer”), a specialty food and produce distributor in New England. The final purchase price was approximately $44,081, consisting of $46,450 paid in cash at closing, partially offset by a $2,369 net working capital true-up. The Company will also pay additional contingent consideration, if earned, in the form of an earn-out amount which could total $4,000 over a two-year period. The payment of the earn-out liability is subject to the successful achievement of certain gross profit targets. The Company estimated the fair value of this contingent earn-out liability to be $511 and $2,081 as of December 25, 2020 and January 27, 2020, respectively.

Trademarks were valued at fair value using Level 3 inputs and are being amortized over 15 years. Goodwill for the Sid Wainer acquisition will be amortized over 15 years for tax purposes. The goodwill recorded primarily reflects the value of acquiring an established specialty food and produce distributor to leverage the Company’s existing products in the markets served by Sid Wainer, to supply Sid Wainer’s produce offerings to the Company’s metro New York market and any intangible assets that do not qualify for separate recognition. The Company reflected net sales of $89,638 and an operating loss of $9,598 for the fifty-two weeks ended December 25, 2020 in its consolidated statement of operations related to the Sid Wainer acquisition.

The table below presents unaudited pro forma consolidated income statement information of the Company as if the Sid Wainer acquisition had occurred on December 29, 2018. The pro forma results were prepared from financial information obtained from the sellers of the business, as well as information obtained during the due diligence process associated with the acquisition. The pro forma information is not necessarily indicative of the Company’s results of operations had the acquisition been completed on the above date, nor is it necessarily indicative of the Company’s future results. The pro forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisition, any incremental costs for Sid Wainer transitioning to become a public company, and also does not reflect additional revenue opportunities following the acquisition. The pro forma information reflects amortization and depreciation of the Sid Wainer acquisition at their respective fair values.


	Fiscal Years Ended
		December 25, 2020		December 27, 2019
Net sales		$	1,124,409	$	1,814,304
(Loss) income before income taxes		$	(124,611)	$	34,445

Bassian

On February 25, 2019, pursuant to an asset purchase agreement, the Company acquired substantially all of the assets of Bassian Farms, Inc. and certain affiliated entities (“Bassian”), a specialty center-of-the-plate distributor based in northern California. The aggregate purchase price for the transaction was approximately $31,777, including $27,990 paid in cash at closing and the issuance of a $4,000 unsecured convertible note, partially offset by the settlement of a net working capital true-up. The Company will also pay additional contingent consideration, if earned, in the form of an earn-out amount which could total $9,000 over a four-year period. The payment of the contingent earn-out liability is subject to the successful achievement of certain gross profit targets.

Customer relationships, non-compete agreements and trademarks are valued at fair value using Level 3 inputs and are being amortized over 15, 5 and 10 years, respectively. Goodwill for the Bassian acquisition is being amortized over 15 years for tax purposes. The goodwill recorded primarily reflects the value of acquiring an established center-of-the-plate distributor to grow the Company's center-of-the-plate product category in the West Coast region, as well as any intangible assets that do not qualify for separate recognition.

The table below sets forth the purchase price allocation of these and other acquisitions:


	Sid Wainer		Bassian		Other Acquisitions
Current assets	$	22,960	$	6,657	$	6,795
Customer relationships	—		15,530		6,638
Trademarks	3,500		4,610		700
Non-compete agreements	—		1,000		—
Goodwill	11,571		13,065		5,892
Fixed assets	19,425		856		308
Other assets	—		10		—

Right-of-use assets	8,259		—		1,019
Lease liabilities	(8,259)		—		(1,019)


Current liabilities	(11,294)		(2,501)		(1,300)
Earn-out liability	(2,081)		(7,450)		(1,383)
Other long-term liabilities	—		—		(499)


Total consideration	$	44,081	$	31,777	$	17,151

The Company recognized professional fees of $435 and $235 in other operating expenses related to acquisitions in fiscal 2020 and 2019, respectively. During the years ended December 25, 2020 and December 27, 2019, the Company also paid approximately $16,851 and $300, respectively, on other strategic acquisitions.

Inventories	12 Months Ended
Inventories	Dec. 25, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist primarily of finished product. Our entities record inventory using a mixture of first-in, first-out and average cost, which we believe approximates first-in, first-out. Inventory is reflected net of adjustments for shrinkage, excess and obsolescence totaling $9,013 and $1,937 at December 25, 2020 and December 27, 2019, respectively.

Equipment, Leasehold Improvements and Software

12 Months Ended

Dec. 25, 2020

Property, Plant and Equipment [Abstract]

Equipment, Leasehold Improvements and Software

Equipment, leasehold improvements and software as of December 25, 2020 and December 27, 2019 consisted of the following:



	Useful Lives	December 25, 2020		December 27, 2019
Land	Indefinite	$	5,020	$	1,170
Buildings	20 years	15,685		1,360
Machinery and equipment	5 - 10 years	24,900		21,718
Computers, data processing and other equipment	3 - 7 years	14,207		12,686
Software	3 - 7 years	33,063		29,305
Leasehold improvements	1- 40 years	68,747		70,903
Furniture and fixtures	7 years	3,412		3,309
Vehicles	5 - 7 years	21,873		6,410
Other	7 years	88		95
Construction-in-process		8,115		9,200
		195,110		156,156
Less: accumulated depreciation and amortization		(79,662)		(63,310)
Equipment, leasehold improvements and software, net		$	115,448	$	92,846

Construction-in-process at December 25, 2020 and at December 27, 2019 related primarily to the implementation of the Company’s Enterprise Resource Planning (“ERP”) system. The rollout of its ERP system will continue through fiscal 2021. The net book value of equipment financed under finance leases at December 25, 2020 and December 27, 2019 was $14,705 and $3,905, respectively. No interest expense was capitalized during the fiscal years ended December 25, 2020, December 27, 2019 and December 28, 2018.

The components of depreciation and amortization expense were as follows:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Depreciation expense	$	14,984	$	9,535	$	7,142
Software amortization	$	4,790	$	3,793	$	3,154

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 25, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

The Pandemic has had a material impact on the Company’s customers. In an effort to limit the spread of the virus, federal, state and local governments implemented measures that resulted in the temporary closure of non-essential businesses in many of the markets the Company serves, which forced its customers in those markets to either transition their establishments to take-out service, delivery service or temporarily cease operations. Beginning in mid-March, these actions led to a significant decrease in demand for the Company’s products. The adverse impact to the Company’s customer base and market capitalization at the onset of the Pandemic were considered triggering events during the first quarter of fiscal 2020, and accordingly, the Company performed interim goodwill and long-lived asset quantitative impairment tests as of March 27, 2020.

Interim Goodwill Impairment Test

The Company estimated the fair value of its reporting units using an income approach that incorporates the use of a discounted cash flow model that involves many management assumptions that are based upon future growth projections which include estimates of the Pandemic’s impact on our business. Assumptions include estimates of future revenues, growth rates which include estimates for the duration of the Pandemic’s impact on the Company’s customers, estimates of future levels of gross profit and operating profit, projected capital expenditures and discount rates based upon industry and competitor analyses. On the basis of these assumptions, the Company determined that the fair values of its reporting units exceeded the net carry values of their assets and liabilities. As such, goodwill was not impaired as of March 27, 2020.

Interim Long-lived Impairment Test

Long-lived assets, including other intangible assets, were tested for recoverability at the asset group level. The Company

estimated the net undiscounted cash flows expected to be generated from the asset group over the expected useful of the asset group’s primary asset. Key assumptions include future revenues, growth rates, estimates of future levels of gross profit and operating profit and projected capital expenditures necessary to maintain the operating capacity of each asset group. On the basis of these assumptions, the Company determined that the undiscounted cash flows for each of the Company’s asset groups exceeded their respective carry values and therefore long-lived assets were not impaired as of March 27, 2020.

During the fourth quarter of fiscal 2020, the Company performed its annual goodwill impairment test, the results of which indicated that fair values of its reporting units exceeded their respective net carry values and as such goodwill was not impaired.

Also during the fourth quarter of fiscal 2020, the Company committed to a plan to shift its brand strategy to leverage its Allen Brothers brand in its west coast region and determined its Del Monte, Ports Seafood and Bassian Farms trademarks did not fit the Company’s long-term strategic objectives. This brand transition is planned to begin in the second quarter of fiscal 2021. The Company assessed these trademarks for impairment and used the relief of royalty method to determine fair value. Significant assumptions used include future sales forecasts, royalty rates and discount rates. As a result of the assessment, the Company recorded a $24,200 impairment charge, $17,545 net of tax, to write-down the value of its Del Monte and Bassian Farms trademarks. There were no other triggering events during fiscal 2020 that would require the Company to test the recoverability of its long-lived assets.

The impacts of the Pandemic on the Company’s business are uncertain and will depend on future developments, and as such, it is possible that another triggering event could occur that under certain circumstances could cause the Company to recognize an impairment charge in the future.

The changes in the carrying amount of goodwill are presented as follows:


Carrying amount as of December 28, 2018	$	184,280

Acquisitions	13,424
Foreign currency translation	39
Carrying amount as of December 27, 2019	197,743

Acquisitions	17,104
Foreign currency translation	17
Carrying amount as of December 25, 2020	$	214,864

Other intangible assets as of December 25, 2020 and December 27, 2019 consisted of the following:


	Weighted Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Amount
December 25, 2020
Customer relationships	128 months	$	141,679	$	(55,135)	$	86,544
Non-compete agreements	37 months	8,579		(7,752)		827
Trademarks	209 months	44,520		(20,174)		24,346
Total		$	194,778	$	(83,061)	$	111,717

December 27, 2019
Customer relationships	134 months	$	135,226	$	(45,454)	$	89,772
Non-compete agreements	49 months	8,579		(7,479)		1,100
Trademarks	193 months	64,505		(16,626)		47,879
Total		$	208,310	$	(69,559)	$	138,751

Amortization expense for other intangibles was $13,502, $12,663 and $11,910 for the fiscal years ended December 25, 2020, December 27, 2019 and December 28, 2018, respectively.

As of December 25, 2020, estimated amortization expense for other intangible assets for each of the next five fiscal years and thereafter is as follows:


2021	$	12,163
2022	10,901
2023	9,872
2024	9,528
2025	9,369
Thereafter	59,884
Total	$	111,717

Debt Obligations

12 Months Ended

Dec. 25, 2020

Debt Disclosure [Abstract]

Debt Obligations

Debt obligations as of December 25, 2020 and December 27, 2019 consisted of the following:


	December 25, 2020		December 27, 2019
Senior secured term loan	$	201,553	$	238,129
Convertible senior notes	150,000		150,000
Asset-based loan facility	40,000		—
Finance lease and other financing obligations	15,798		3,905
Convertible unsecured note	4,000		4,000



Deferred finance fees and original issue discount	(7,172)		(9,207)
Total debt obligations	404,179		386,827
Less: current installments	(6,095)		(721)
Total debt obligations excluding current installments	$	398,084	$	386,106

Maturities of the Company’s debt, excluding finance leases, for each of the next five years and thereafter at December 25, 2020 are as follows:


2021	$	1,712
2022	72,878
2023	5,712
2024	151,712
2025	163,539
Thereafter	—
Total	$	395,553

Senior Secured Term Loan Credit Facility

On June 22, 2016, the Company refinanced its debt structure by entering into a credit agreement (the “Term Loan Credit Agreement”) with a group of lenders for which Jefferies Finance LLC acts as administrative agent and collateral agent. The Term Loan Credit Agreement provides for a senior secured term loan B facility (the “Term Loan Facility”) in an aggregate amount of $305,000 (the loans outstanding under the Term Loan Facility, the “Term Loans”) maturing on June 22, 2022. Additionally, the Term Loan Facility includes an accordion which permits the Company to request that the lenders extend additional Term Loans in an aggregate principal amount of up to $50,000 (less the aggregate amount of certain indebtedness incurred to finance acquisitions) plus an unlimited amount subject to the Company’s Total Leverage Ratio not exceeding 4.90:1.00 on a pro forma basis. Borrowings were used to repay the Company’s senior secured notes, as well as the prior term loan and revolving credit facility. Remaining funds were used for capital expenditures, permitted acquisitions, working capital and general corporate purposes of the Company.

On December 13, 2017, the Company completed a repricing of the Term Loan Facility to reduce Applicable Rate (as defined in the Term Loan Credit Agreement) from 475 basis points to 400 basis points over the London Inter-bank Offered Rate (“LIBOR”). In connection with the repricing, the Company paid debt financing costs of $761 which were capitalized as deferred financing charges.

On July 6, 2018, the Company made a $47,100 prepayment and was no longer required to make quarterly amortization payments on the Term Loans. On November 16, 2018, the Company completed a repricing of the Term Loan Facility to reduce the Applicable Rate from 400 basis points to 350 basis points over LIBOR. In connection with the repricing, the Company paid debt financing costs of $626 which were capitalized as deferred financing charges. The Company wrote off unamortized deferred financing fees of $1,081 as a result of this repricing.

On June 8, 2020, the Company entered into a sixth amendment (the “Sixth Amendment”) to its Term Loan Credit Agreement. Upon the consent of the lenders, the Sixth Amendment converted a portion of the term loans then outstanding of $238,129 (the “Term Loans”) into a new tranche of term loans (the “2025 Tranche”) which among other things extended the maturity date by three years and increased the fixed-rate portion of interest charged by 200 basis points. The portion of the Term Loans that did not convert (the “2022 Tranche”) retained the maturity date and interest rate in effect prior to the Sixth Amendment. The Company made a prepayment of $35,719 on the 2025 Tranche immediately after it was established.

The following table summarizes the key terms of the Term Loans as of December 25, 2020:

Term Loans

Principal Outstanding

Interest Rate

Maturity Date

Scheduled Principal Payments

2022 Tranche

31,166

LIBOR + 3.5%

June 22, 2022

none

2025 Tranche

170,387

LIBOR + 5.5%

June 22, 2025

0.25% per quarter

The 2025 Tranche has a springing maturity date of June 22, 2024 if, as of that date, the Company’s 1.875% convertible senior notes maturing on December 1, 2024 have not been repaid or refinanced by debt having a maturity date on or after December 23, 2025. The Sixth Amendment was accounted for as a debt modification. The Company incurred lender fees of $856 which were capitalized as debt issuance costs. Third-party transaction costs of $1,233 were expensed as incurred.

The Sixth Amendment introduced a minimum liquidity covenant which requires the Company to maintain at least $35,000 of liquidity as of the last day of any fiscal quarter where EBITDA, as defined in the Credit Agreement, is less than $10,000. The Company had minimum liquidity, as defined in the Credit Agreement, of $248,852 as of December 25, 2020.

The interest charged on the Term Loans, will be equal to a spread plus, at the Company’s option, either the Base Rate (as defined in the Term Loan Credit Agreement) or LIBOR for one, two, three, six or (if consented to by the lenders) twelve-month interest periods chosen by the Company. The weighted average interest rate on the Term Loans at December 25, 2020 was 5.3%.

The Term Loan Facility contains affirmative covenants, negative covenants and events of default customary for a term loan B facility of this type, as more particularly described in the Term Loan Credit Agreement. As of December 25, 2020, the Company was in compliance with all debt covenants under the Term Loan Credit Agreement.

Asset-Based Loan Facility

On June 29, 2018, the Company entered into a credit agreement (the “ABL Credit Agreement”) with a group of lenders for which BMO Harris Bank, N.A. acts as administrative agent. The ABL Credit Agreement provides for an asset-based loan facility (the “ABL”) in the aggregate amount of up to $150,000. Borrowings under the ABL will be used, and are expected to be used, for capital expenditures, permitted acquisitions, working capital and general corporate purposes of the Company. Availability under the ABL will be limited to a borrowing base equal to the lesser of: (i) the aggregate amount of commitments or (ii) the sum of specified percentages of eligible receivables and eligible inventory, minus certain availability reserves. The co-borrowers under the ABL are entitled on one or more occasions, subject to the satisfaction of certain conditions, to request an increase in the commitments under the ABL in an aggregate principal amount of up to $25,000. The ABL matures on the earlier of June 29, 2023 and 90 days prior to the maturity date of the Company’s Term Loan Facility. The Company incurred transaction costs of $877 which were capitalized as deferred financing fees to be amortized over the term of the ABL.

The interest rate charged on borrowing under the ABL is equal to a spread plus, at the Company’s option, either the Base Rate (as defined in the ABL Credit Agreement) or LIBOR (except for swingline loans) for one, two, three, six or (if consented to by the lenders) twelve-month, interest periods chosen by the Company. The Company will pay certain recurring fees with respect to the ABL, including fees on unused lender commitments. The interest rate on the ABL at December 25, 2020 was 1.9%.

The ABL Credit Agreement contains customary affirmative covenants, negative covenants and events of default as more particularly described in the ABL Credit Agreement. The Company is required to comply with a minimum consolidated fixed charge coverage ratio of 1:1 if the amount of availability under the ABL falls below $10,000 or 10% of the borrowing base.

As of December 25, 2020, the Company was in compliance with all debt covenants and the Company had reserved $20,141 of the ABL for the issuance of letters of credit. As of December 25, 2020, funds totaling $50,282 were available for borrowing under the ABL.

Convertible Senior Notes

On November 22, 2019, the Company issued $150,000 aggregate principal amount of 1.875% Convertible Senior Notes (the “Senior Notes”). The Senior Notes were issued pursuant to an indenture, dated as of November 22, 2019 (the “Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. Approximately $43,225 of the net proceeds were used to repay all outstanding borrowings under the ABL and the Company intends to use the remainder for working capital and general corporate purposes, which may include future acquisitions. The Company incurred transaction costs of approximately $5,082 which were capitalized as deferred financing fees to be amortized over the term of the Senior Notes.

The Senior Notes bear interest of 1.875% per annum payable semiannually in arrears on June 1 and December 1 of each year, beginning on June 1, 2020. At any time before the close of business on the scheduled trading day immediately before the maturity date, the Senior Notes will be convertible at the option of holders into shares of the Company’s common stock, together with cash in lieu of any fractional share, at an initial conversion price of approximately $44.20 per share. The conversion price is subject to adjustments upon the occurrence of certain events. The Senior Notes will mature on December 1, 2024, unless earlier converted or repurchased in accordance with their terms.

The Company may not redeem the Senior Notes at its option prior to maturity. In addition, if the Company undergoes a fundamental change, as described in the Indenture, holders may require the Company to repurchase for cash all or part of their Senior Notes at a repurchase price equal to 100% of the principal amount of the Senior Notes to be repurchased, plus accrued and unpaid interest up to, but excluding, the required repurchase date.

Convertible Unsecured Note

On February 25, 2019, the Company issued a $4,000 convertible unsecured note (the “Unsecured Note”), maturing on June 29, 2023, to Bassian Farms, Inc. (the “Holder”) as partial consideration in the Bassian acquisition. The interest rate charged on the Unsecured Note is 4.5% per annum and increases to 5.0% after the two-year anniversary of the closing date. The Company may, in certain instances beginning eighteen months after issuance of the Unsecured Note, redeem the Unsecured Note in whole or in part for cash or convert the Unsecured Note into shares of the Company’s common stock at the conversion price of $43.93 per share. After the two-year anniversary of the closing date, the Holder may convert the Unsecured Note into shares of the Company’s common stock at the conversion price. Upon a change of control event, the Holder may convert the Unsecured Note into shares of the Company’s common stock at the conversion price or redeem the Unsecured Note for cash.

Stockholders' Equity

12 Months Ended

Dec. 25, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Preferred Stock Purchase Rights

On March 22, 2020, the Company’s board of directors approved a limited duration Preferred Stock Purchase Rights Agreement (the “Rights Agreement”). Under the Rights Agreement, the board of directors approved a dividend of one preferred share purchase right (a “Right”) for each share outstanding share of the Company’s common stock to purchase one one-thousandth of a share of Series A Preferred Stock of the Company at a price of $40.00 per Unit of Preferred Stock, subject to adjustment as provided in the Rights Agreement. The Rights will expire on March 21, 2021, unless the Rights are earlier redeemed or exchanged by the Company or upon the occurrence of certain transactions.

Public Common Stock Offering

On May 14, 2020, the Company completed a public offering of 5,769,231 shares of its common stock at a price of $13.00 per share to the underwriters, to be reoffered by the underwriters at variable prices per share, which resulted in net proceeds of approximately $74,691 after deducting underwriters’ fees, commissions and transaction expenses. In addition, the Company granted a 30-day option to purchase up to an additional 865,384 shares of its common stock at a price of $13.00 per share to the underwriters, to be reoffered by the underwriters at variable prices per share. The option was fully exercised on June 2, 2020 and resulted in additional proceeds of $11,250.

Conversion of Convertible Subordinated Notes

On July 25, 2018, the holders of the $36,750 principal amount of convertible subordinated notes that were issued in connection with the Company’s acquisition of Del Monte Capitol Meat Company converted these notes and related accrued interest of $265 into 1,246,272 shares of the Company’s common stock.

Equity Incentive Plan

On May 17, 2019, the Company’s stockholders approved the 2019 Omnibus Equity Incentive Plan (the “2019 Plan”). Concurrently, the 2011 Omnibus Equity Incentive Plan (the “2011 Plan”) was terminated and any shares remaining available for new grants under the 2011 Plan share reserve were extinguished. The purpose of the 2019 Plan is to promote the interests of the Company and its stockholders by (i) attracting and retaining key officers, employees and directors of, and consultants to, the Company and its Subsidiaries and Affiliates; (ii) motivating such individuals by means of performance-related incentives to achieve long-range performance goals; (iii) enabling such individuals to participate in the long-term growth and financial success of the Company; (iv) encouraging ownership of stock in the Company by such individuals; and (v) linking their compensation to the long-term interests of the Company and its stockholders.

The 2019 Plan is administered by the Compensation and Human Capital Committee (the “Committee”) of the Board of Directors and allows for the issuance of stock options, stock appreciation rights (“SARs”), RSAs, restricted share units, performance awards, or other stock-based awards. Stock option exercise prices are fixed by the Committee but shall not be less than the fair market value of a common share on the date of the grant of the option, except in the case of substitute awards. Similarly, the grant price of an SAR may not be less than the fair market value of a common share on the date of the grant. The Committee will determine the expiration date of each stock option and SAR, but in no case shall the stock option or SAR be exercisable after the expiration of 10 years from the date of the grant. The 2019 Plan provides for 2,600,000 shares available for grant. As of December 25, 2020, there were 1,562,724 shares available for grant.

Stock compensation expense was $9,292, $4,399 and $4,094 for the fiscal years ended December 25, 2020, December 27, 2019 and December 28, 2018, respectively. The related tax benefit for stock-based compensation was $133, $883 and $864 for the fiscal years ended December 25, 2020, December 27, 2019 and December 28, 2018, respectively.

The following table reflects the activity of RSAs during the fiscal year ended December 25, 2020:


	Time-based			Performance-based			Market-based
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value




Unvested at December 27, 2019	286,917	$	29.94	426,740	$	26.01	26,952	$	30.16
Granted	799,371	13.91		187,806	30.85		30,318	27.70
Vested	(167,883)	27.88		(144,556)	20.36		—	—
Forfeited	(17,087)	28.73		(469,990)	30.35		(30,318)	27.70
Unvested at December 25, 2020	901,318	$	16.14	—	$	—	26,952	$	30.16

The fair value of RSAs vested during the fiscal years ended December 25, 2020, December 27, 2019 and December 28, 2018, was $8,109, $3,742 and $2,936, respectively.

These awards are a mix of time-, market- and performance-based grants awarded to key employees and non-employee directors that generally vest over a range of periods up to four-years. The market- and performance-based RSAs generally cliff vest, if at all, after the conclusion of a three-year performance period and vesting is subject to the award recipient’s continued service to the Company as of the vesting date. The number of performance-based RSAs that ultimately vest is based on the Company’s attainment of certain profitability and return on invested capital targets.

During fiscal 2019, the Company awarded market-based RSAs that vest based on the Company’s attainment of an average closing trade price of the Company’s common stock of $39.86 per share, based on an average of 20 consecutive trading days. The grant date fair value of these market-based performance awards was determined using a Monte Carlo simulation in order to simulate a range of possible future stock prices. Key assumptions used included a risk-free interest rate of 2.2% and expected volatility of 44.6%.

During the fourth quarter of fiscal 2020, the Company modified its 2018 performance-awards and certain 2018 time-based awards such that they vested on December 17, 2020. The modifications affected seventeen employees and resulted in incremental stock compensation expense of $1,999. Concurrent with these modifications, the Company also cancelled its 2020 and 2019 performance-based awards and its 2020 market-based equity awards.

At December 25, 2020, the total unrecognized compensation cost for the Company’s unvested RSAs was $9,523 to be recognized over a weighted-average period of approximately 1.9 years. Of this total, $9,180 related to RSAs with time-based vesting provisions to be recognized over a weighted average period of 1.9 years and $343 related to RSAs with performance- or market-based vesting provisions to be recognized over a weighted average period of 1.5 years.

The following table summarizes stock option activity during the fiscal year ended December 25, 2020:


	Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term (in years)




Outstanding December 27, 2019	115,639	$	20.23	$	2,051	6.2
Granted	—	—
Exercised	—	—
Forfeited	—	—
Outstanding December 25, 2020	115,639	$	20.23	$	423	5.2
Exercisable at December 25, 2020	115,639	20.23		$	423	5.2

The Company issues new shares upon the exercise of stock options. The Company recognized expense of zero, $114 and $601 on stock options during the fiscal years ended December 25, 2020, December 27, 2019 and December 28, 2018, respectively. These awards fully vested during fiscal 2019. No compensation expense related to the Company’s RSAs or stock options has been capitalized.

Leases

12 Months Ended

Dec. 25, 2020

Leases [Abstract]

Leases

The components of net lease cost for the fiscal year ended December 25, 2020 and December 27, 2019 were as follows:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019
Operating lease cost	$	27,521	$	27,415
Finance lease cost:
Amortization of right-of-use asset	4,166		308
Interest expense on lease liabilities	552		96
Total finance lease cost	$	4,718	$	404
Short-term lease cost	2,475		2,143
Variable lease cost	1,990		2,707
Sublease income	(96)		(514)
Total lease cost, net	$	36,608	$	32,155

Total rent expense for operating leases for the fiscal years ended December 28, 2018 was $29,202. Total depreciation expense for finance leases for the fiscal years ended December 28, 2018 was $52.

The maturities of the Company’s lease liabilities for each of the next five fiscal years and thereafter at December 25, 2020 were as follows:



	Operating Leases								Finance Leases
	Related Party Real Estate		Third Party Real Estate		Vehicles and Equipment		Total		Vehicles and Equipment
2021	$	499	$	14,118	$	9,925	$	24,542	$	4,905
2022	509		13,518		8,160		22,187		3,814
2023	387		12,462		5,751		18,600		2,942
2024	—		11,418		2,190		13,608		2,411
2025	—		10,457		1,039		11,496		1,880
Thereafter	—		87,307		—		87,307		1,307
Total	$	1,395	$	149,280	$	27,065	$	177,740	$	17,259
Less interest							(51,440)		(1,461)
Present value							$	126,300	$	15,798

Supplemental balance sheet information related to finance leases was as follows:


	Balance Sheet Location	December 25, 2020		December 27, 2019
Short-term finance lease liabilities	Current portion of long-term debt	$	4,383	$	721
Long-term finance lease liabilities	Long-term debt, net of current portion	$	11,415	$	3,184

At December 25, 2020, the weighted-average lease term for operating and finance leases was 10.3 years and 4.5 years, respectively. At December 25, 2020, the weighted-average discount rate for operating and finance leases was 6.3% and 3.7%, respectively.

As of December 25, 2020, the Company is contractually obligated to make payments of approximately $30,174, related to a distribution facility that has not commenced. Accordingly, the Company has not recognized ROU assets or lease liabilities associated with this lease.

Leases

The components of net lease cost for the fiscal year ended December 25, 2020 and December 27, 2019 were as follows:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019
Operating lease cost	$	27,521	$	27,415
Finance lease cost:
Amortization of right-of-use asset	4,166		308
Interest expense on lease liabilities	552		96
Total finance lease cost	$	4,718	$	404
Short-term lease cost	2,475		2,143
Variable lease cost	1,990		2,707
Sublease income	(96)		(514)
Total lease cost, net	$	36,608	$	32,155

Total rent expense for operating leases for the fiscal years ended December 28, 2018 was $29,202. Total depreciation expense for finance leases for the fiscal years ended December 28, 2018 was $52.

The maturities of the Company’s lease liabilities for each of the next five fiscal years and thereafter at December 25, 2020 were as follows:



	Operating Leases								Finance Leases
	Related Party Real Estate		Third Party Real Estate		Vehicles and Equipment		Total		Vehicles and Equipment
2021	$	499	$	14,118	$	9,925	$	24,542	$	4,905
2022	509		13,518		8,160		22,187		3,814
2023	387		12,462		5,751		18,600		2,942
2024	—		11,418		2,190		13,608		2,411
2025	—		10,457		1,039		11,496		1,880
Thereafter	—		87,307		—		87,307		1,307
Total	$	1,395	$	149,280	$	27,065	$	177,740	$	17,259
Less interest							(51,440)		(1,461)
Present value							$	126,300	$	15,798

Supplemental balance sheet information related to finance leases was as follows:


	Balance Sheet Location	December 25, 2020		December 27, 2019
Short-term finance lease liabilities	Current portion of long-term debt	$	4,383	$	721
Long-term finance lease liabilities	Long-term debt, net of current portion	$	11,415	$	3,184

Income Taxes

12 Months Ended

Dec. 25, 2020

Income Tax Disclosure [Abstract]

Income Taxes

In response to the Pandemic, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law on March 27, 2020. The legislation provides temporary changes to the extent to which companies can carryback net operating losses, changes to interest expense deduction limitations, raised the corporate charitable contribution deduction limitation to 25% of taxable income and other tax relief provisions. In December 2020 the Consolidated Appropriations Act, 2021, was signed into law, however, its provisions did not have a material impact on the Company.

The Company’s effective income tax rate was 32.9% and 25.3% for the fifty-two weeks ended December 25, 2020 and December 27, 2019, respectively. The higher effective tax rate in the current fiscal year is primarily related to the Company’s current net loss forecast for fiscal 2020 which, under the CARES Act, allows the Company to claim Federal tax refunds against prior year taxes paid, including taxes paid in fiscal 2015 and 2017, both of which were at statutory tax rates of 35%. The Company’s income tax provision reflects the impact of an expected income tax refund receivable of $21,250 as of December 25, 2020 which is reflected in prepaid expenses and other current assets on the Company’s consolidated balance sheet.

The provision for income taxes consists of the following:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Current income tax (benefit) expense:
Federal	$	(21,877)	$	4,003	$	2,945

State	(408)		2,144		1,943
Total current income tax (benefit) expense	(22,285)		6,147		4,888
Deferred income tax (benefit) expense:
Federal	(10,740)		1,617		2,363
Foreign	50		17		(472)
State	(7,728)		429		663
Total deferred income tax (benefit) expense	(18,418)		2,063		2,554
Total income tax (benefit) expense	$	(40,703)	$	8,210	$	7,442

Income tax (benefit) expense differed from amounts computed using the statutory federal income tax rate due to the following reasons:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Statutory U.S. Federal tax	$	(25,957)	$	6,805	$	5,847
Differences due to:
State and local taxes, net of federal benefit	(6,414)		2,078		1,906
Change in valuation allowance	1,354		95		523
Changes in tax rates	24		(95)		(432)
Federal NOL rate differential	(5,212)		—		—
Stock compensation	(102)		(676)		(197)
Other	(4,396)		3		(205)
Income tax (benefit) expense	$	(40,703)	$	8,210	$	7,442

Deferred tax assets and liabilities at December 25, 2020 and December 27, 2019 consist of the following:


	December 25, 2020		December 27, 2019
Deferred tax assets:
Receivables and inventory	$	10,944	$	4,468

Self-insurance reserves	2,210		1,957


Net operating loss carryforwards	15,413		1,393


Debt discount and interest	3,093		—
Stock compensation	1,686		1,894

Charitable contribution carryforward	3,166		368
Operating lease liabilities	34,460		37,740
Other	1,307		414
Total deferred tax assets	72,279		48,234

Deferred tax liabilities:
Property & equipment	(11,289)		(5,218)
Goodwill and intangible assets	(17,709)		(15,192)

Prepaid expenses and other	(2,071)		(2,905)
Operating lease right-of-use assets	(31,414)		(34,895)
Total deferred tax liabilities	(62,483)		(58,210)
Valuation allowance	(2,261)		(907)
Total net deferred tax asset (liability)	$	7,535	$	(10,883)

The deferred tax provision results from the effects of net changes during the year in deferred tax assets and liabilities arising from temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company files income tax returns in the U.S. Federal and various state and local jurisdictions as well as the Canadian Federal and provincial districts. For Federal income tax purposes, the 2017 through 2020 tax years remain open for examination by the tax authorities under the normal three-year statute of limitations and the fact that we have not yet filed our tax return for 2020. For state tax purposes, the 2016 through 2020 tax years remain open for examination by the tax authorities under a four-year statute of limitations. The Company records interest and penalties, if any, in income tax expense.

The Company considered all available positive and negative evidence to determine if based on the weight of such evidence, a valuation allowance is needed. At December 25, 2020, the Company had a valuation allowance of $2,261, which consisted of $892 and $1,369 against foreign and certain state net operating loss carryforwards, respectively, as they are not expected to be fully realizable in the future. Despite the loss for the year ended December 25, 2020 as a direct impact of the Pandemic, the Company considered the substantial amount of taxable income available in carryback years under applicable tax law, strong history of earnings, no history of tax attributes expiring before utilization, reversing taxable temporary differences scheduled to reverse within the reversal period of the respective deferred tax assets, the long term and indefinite nature of tax attributes on hand, and forecasts of future taxable income in determining a valuation allowance is not needed on the remaining deferred tax assets. However, the impacts of the Pandemic on the Company’s business are uncertain and will depend on future developments, and as such, it is possible that under certain circumstances the Company may be required to recognize a valuation allowance in the future.

The Company’s Canada net operating loss carryforward of $1,139 expires at various dates between fiscal 2038 and 2040. The Company’s state net operating loss carryforwards of $7,082 expire at various dates, the earliest of which expire in fiscal 2023 while others are indefinite-lived. The Company’s federal net operating loss carry forward of $7,192 is indefinite-lived and its charitable contributions carry forward expires in fiscal 2025.

The Company’s foreign subsidiaries had operating (loss) income before income taxes as follows:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Foreign subsidiaries operating (loss) income before income taxes	$	(4,231)	$	18	$	(3,223)

The Company is permanently reinvesting the earnings of it’s foreign operations which are disregarded for US tax purposes. In addition, the US tax consequences and foreign withholding taxes on any future remittances are immaterial.

As of December 25, 2020 and December 27, 2019, the Company did not have any material uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Supplemental Disclosures of Cash Flow Information

12 Months Ended

Dec. 25, 2020

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures of Cash Flow Information


	December 25, 2020		December 27, 2019		December 28, 2018
Cash paid for income taxes, net of cash received	$	308	$	6,046	$	4,825
Cash paid for interest	$	18,182	$	16,271	$	16,955
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	25,090	$	25,302	$	—
Operating cash flows from finance leases	$	3,856	$	96	$	—
ROU assets obtained in exchange for lease liabilities:
Operating leases	$	7,201	$	155,027	$	—
Finance leases	$	16,063	$	4,183	$	—
Non-cash investing and financing activities:

Conversion of subordinated notes and accrued interest into common stock	$	—	$	—	$	37,015




Contingent earn-out liabilities for acquisitions	$	3,464	$	7,929	$	1,414
Convertible notes issued for acquisitions	$	—	$	4,000	$	—

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 25, 2020
Postemployment Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Employee Tax-Deferred Savings Plan The Company offers a 401(k) Plan to eligible employees that provides for tax-deferred salary deductions for eligible employees. Employees may choose to make voluntary contributions of their annual compensation to the 401(k) Plan, limited to an annual maximum amount as set periodically by the Internal Revenue Service. The Company provides discretionary matching contributions equal to 50 percent of the employee’s contribution amount, up to a maximum of six of the employee’s annual salary, capped at $2.5 per employee per year. Matching contributions begin vesting after one year and are fully vested after five years. Employee contributions are fully vested when made. As a result of the Pandemic, the Company’s matching contributions were temporarily suspended as of March 31, 2020. Under the 401(k) Plan there is no option available to the employee to receive or purchase the Company’s common stock. Matching contributions under the 401(k) Plan were $720, $1,268 and $1,097, respectively, for fiscal 2020, 2019 and 2018.

Related Parties	12 Months Ended
Related Parties	Dec. 25, 2020
Related Party Transactions [Abstract]
Related Parties	Related Parties The Company follows the guidance in ASC 850, “Related Party Disclosure”, which requires the disclosure of material related party transactions other than compensation arrangements, expense allowances, or other similar items that occur in the ordinary course of business. The Chefs’ Warehouse Mid-Atlantic, LLC, a subsidiary of the Company, leases a distribution facility that is 100% owned by entities controlled by Christopher Pappas, the Company’s chairman, president and chief executive officer, and John Pappas, the Company’s vice chairman and one of its directors, and are deemed to be affiliates of these individuals. Expense related to this facility was $488 for fiscal 2020, $433 for fiscal 2019 and $533 for fiscal 2018. This lease was amended during the first quarter of fiscal 2020 and expires on September 30, 2023. The Company purchases products from ConAgra Foods, Inc. of which Steve Goldstone, a Director of the Company, was a member of the board of directors through September 20, 2018. The Company purchased approximately $662 worth of products from ConAgra Foods, Inc. through September 20, 2018 of fiscal 2018. John DeBenedetti was a prior owner of Del Monte and served on the Company’s board of directors through April 20, 2018 at which point he ceased to be a related party. John DeBenedetti, indirectly through TJ Investments, LLC, owned an 8.33% ownership interest in Old World Provisions, which supplied products to the Company after the Del Monte acquisition. The Company purchased approximately $474 of products from Old World Provisions during the sixteen weeks ended April 20, 2018. Mr. J. DeBenedetti was not involved in the day-to-day management of Old World Provisions.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 25, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Contingencies The Company is involved in various legal proceedings. The Company establishes reserves for specific legal proceedings when it determines that the likelihood of an unfavorable outcome is probable and the amount of loss can be reasonably estimated. Management has also identified certain other legal matters where the Company believes an unfavorable outcome is reasonably possible and/or for which no estimate of possible losses can be made. The Company does not believe that there is a reasonable possibility of material loss or loss in excess of the amount that the Company has accrued. The Company recognizes legal fees related to any ongoing legal proceeding as incurred. Tax Audits The Company is involved in various tax matters, with respect to some of which the outcome is uncertain. These audits may result in the assessment of additional taxes that are subsequently resolved with authorities or potentially through the courts. Risk Management Programs The Company’s self-insurance reserves for its medical program totaled $1,684 and $1,220 at December 25, 2020 and December 27, 2019, respectively. The Company’s self-insurance reserves for its automobile liability program totaled $3,450 and $2,818 at December 25, 2020 and December 27, 2019, respectively. Self-insurance reserves for workers’ compensation totaled $7,696 and $7,082 at December 25, 2020 and December 27, 2019, respectively. Workforce As of December 25, 2020, approximately 7% of the Company’s employees are represented by unions, all of whom are operating under collective bargaining agreements which expire at various times between fiscal 2021 and 2025. Approximately 2% of the Company’s employees are under a collective bargaining agreement that expires in fiscal 2021.

Valuation Reserves

12 Months Ended

Dec. 25, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation Reserves

The following tables summarize the activity in our valuation accounts during the fiscal years ended December 25, 2020, December 27, 2019 and December 28, 2018:


	Balance at Beginning of Period		Additions Charged to Expense		Deductions		Balance at End of Period
Allowance for doubtful accounts
December 25, 2020	$	8,846	$	21,372	$	(6,191)	$	24,027
December 27, 2019	7,460		4,981		(3,595)		8,846
December 28, 2018	8,026		3,790		(4,356)		7,460


Allowance for deferred tax assets
December 25, 2020	$	907	$	1,354	$	—	$	2,261
December 27, 2019	812		95		—		907
December 28, 2018	289		523		—		812

Quarterly Results (unaudited)

12 Months Ended

Dec. 25, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results (unaudited)

The quarterly results of the Company for the fiscal years ended December 25, 2020 and December 27, 2019, including the impacts of the reclassifications described in Note 2, are as follows:


	Fiscal 2020 (1)
	Q1 (2)		Q2		Q3		Q4 (3)
Net sales	$	375,431	$	200,496	$	254,030	$	281,674
Gross profit	85,488		43,426		60,362		58,875
Operating loss	(17,058)		(25,409)		(11,925)		(48,268)
Loss before income taxes	(22,182)		(31,181)		(16,631)		(53,612)
Net loss	(14,085)		(20,334)		(11,427)		(37,057)
Basic net loss per share	(0.48)		(0.62)		(0.31)		(1.02)
Diluted net loss per share	(0.48)		(0.62)		(0.31)		(1.02)


	Fiscal 2019
	Q1		Q2		Q3		Q4
Net sales	$	357,027	$	411,420	$	396,880	$	426,507
Gross profit	85,471		101,677		96,994		102,426
Operating profit	6,116		15,530		10,624		18,397
Income before income taxes	1,565		10,685		6,107		14,046
Net income	1,134		7,746		4,425		10,888
Basic net income per share	0.04		0.26		0.15		0.37
Diluted net income per share	0.04		0.26		0.15		0.36

(1)The Company’s results for fiscal 2020 were materially adversely impacted due to the Pandemic.

(2)The Company began reflecting the results of the Sid Wainer acquisition in the first quarter of 2020.

(3)Includes $24,200 intangible asset impairment charge.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 25, 2020
Accounting Policies [Abstract]
Fiscal Period	The Company’s quarterly periods end on the thirteenth Friday of each quarter. Every six to seven years the Company will add a fourteenth week to its fourth quarter to more closely align its year end to the calendar year.
Segment Reporting	The Company’s business consists of three operating segments: East Coast, Midwest and West Coast that aggregate into one reportable segment, food product distribution, which is concentrated in the United States.
Consolidation	The consolidated financial statements include all the accounts of the Company and its direct and indirect wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.
Guidance Adopted and Not Yet Adopted	Guidance Adopted in Fiscal 2020 Measurement of Credit Losses on Financial Instruments: In June 2016 and as further amended in November 2018, the Financial Accounting Standards Board (the “FASB”) issued guidance which requires entities to use a forward-looking expected loss model to estimate credit losses. It also requires additional disclosure related to credit quality of trade and other receivables, including information related to management’s estimate of credit allowances. The Company adopted this guidance on December 28, 2019. The Company analyzes customer creditworthiness, accounts receivable balances, payment history, payment terms and historical bad debt levels when evaluating the adequacy of its allowance for doubtful accounts. In instances where a reserve has been recorded for a particular customer, future sales to the customer are either conducted using cash-on-delivery terms or the account is closely monitored so that agreed-upon payments are received prior to orders being released. A failure to pay results in held or cancelled orders. The Company also estimates receivables that will ultimately be uncollectible based upon historical write-off experience. Management incorporates current macro-economic factors in existence as of the balance sheet date that may impact the food-away-from-home industry and/or its customers, and specifically, beginning in the first quarter of fiscal 2020, the impact of the Pandemic. Adoption of this guidance did not have a material effect on the Company’s consolidated financial statements. Leases: In April 2020, the FASB issued guidance describing approaches entities should follow when accounting for lease concessions negotiated due to the effects of the Pandemic. The Company has negotiated rent deferrals with certain lessors that do not materially modify the amount of consideration due under the original contract terms. Consistent with the guidance, the Company elected to recognize such rent deferrals as accrued expenses. The Company continues to recognize expense during the deferral period. Guidance Not Yet Adopted Simplifying the Accounting for Income Taxes: In December 2019, the FASB issued guidance that eliminates certain exceptions related to the approach for intraperiod tax allocations, the methodology for calculating income taxes in an interim period and other simplifications and clarifications. The guidance will be effective for fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company expects to adopt this guidance when effective. Upon adoption, the Company may recognize additional income tax benefits during interim periods in which interim losses exceed full year projections due to provisions in the guidance that remove loss limitation rules. Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity: In August 2020, the FASB issued guidance that simplifies the accounting models for financial instruments with characteristics of debt and equity. The amendments in the guidance result in fewer instances in which an embedded conversion feature must be accounted for separately from its host contract. This guidance will be effective for fiscal years beginning after December 15, 2021. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company expects to adopt this guidance on December 26, 2020. The Company’s existing convertible debt instruments are not bifurcated and as such adoption will have no impact on ts consolidated financial statements.
Use of Estimates	The preparation of the Company’s consolidated financial statements in conformity with generally accepted accounting principles requires it to make estimates and assumptions that affect reported amounts of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities. Estimates are used in determining, among other items, the allowance for doubtful accounts, inventory valuation adjustments, self-insurance reserves for group medical insurance, workers’ compensation insurance and automobile liability insurance, future cash flows associated with impairment testing for intangible assets (including goodwill) and long-lived assets, useful lives for intangible assets, stock-based compensation, contingent earn-out liabilities and tax reserves. Actual results could differ from estimates.
Revenue Recognition, Deferred Revenue, Right of Return, Cost of Sales, and Vendor Rebates and Other Promotional Incentives	Revenues from product sales are recognized at the point at which control of each product is transferred to the customer. The Company’s contracts contain performance obligations which are satisfied when customers have physical possession of each product. The majority of customer orders are fulfilled within a day and customer payment terms are typically 20 to 60 days from delivery, although in response to the Pandemic our credit terms have been temporarily tightened to a maximum of 30 days for the majority of our customers. Shipping and handling activities are costs to fulfill the Company’s performance obligations. These costs are expensed as incurred and presented within selling, general and administrative expenses on the consolidated statements of operations. The Company offers certain sales incentives to customers in the form of rebates or discounts. These sales incentives are accounted as variable consideration. The Company estimates these amounts based on the expected amount to be provided to customers and records a corresponding reduction in revenue. The Company does not expect a significant reversal in the amount of cumulative revenue recognized. Sales tax billed to customers is not included in revenue but rather recorded as a liability owed to the respective taxing authorities at the time the sale is recognized.The Company determines its product category classification based on how the Company currently markets its products to its customers. The Company’s definition of its principal product categories may differ from the way in which other companies present similar information.Certain customer arrangements in the Company’s direct-to-consumer business, prepaid gift plans and gift card purchases, result in deferred revenues when cash payments are received in advance of performance. The Company recognizes revenue on its prepaid gift plans when control of each product is transferred to the customer. Performance obligations under the Company’s prepaid gift plans are satisfied within a period of twelve months or less. Gift cards issued by the Company do not have expiration dates. The Company records a liability for unredeemed gift cards at the time gift cards are sold and the liability is reduced when the card is redeemed, the value of the card is escheated to the appropriate government agency, or through breakage. Gift card breakage is estimated based on the Company’s historical redemption experience and expected trends in redemption patterns. Amounts recognized through breakage represent the portion of the gift card liability that is not subject to unclaimed property laws and for which the likelihood of redemption is remote.The Company’s standard terms and conditions provide customers with a right of return if the goods received are not merchantable. Customers are either issued a replacement order at no cost, or are issued a credit for the returned goods.The Company records cost of sales based upon the net purchase price paid for a product, including applicable freight charges incurred to deliver the product to the Company’s warehouse, and food processing costs. Food processing costs include but are not limited to direct labor and benefits, applicable overhead and depreciation of equipment and facilities used in food processing activities.The Company receives consideration and product purchase credits from certain vendors that the Company accounts for as a reduction of cost of sales. There are several types of cash consideration received from vendors. The purchase incentive is primarily in the form of a specified amount per pound or per case, or an amount for year-over-year growth.
Contract Costs and Selling, General and Administrative Expenses	Sales commissions are expensed when incurred because the amortization period is one year or less. These costs are presented within selling, general and administrative expenses on the Company’s consolidated statements of operations.Selling, general and administrative expenses include facilities costs, product shipping and handling costs, warehouse costs, and other selling, general and administrative costs.
Other Operating Expenses	Other operating expenses includes expenses primarily related to changes in the fair value of the Company’s earn-out liabilities, gains and losses on asset disposals, asset impairments and certain third-party deal costs incurred in connection with business acquisitions or financing arrangements.
Cash and Cash Equivalents	The Company considers all highly liquid investments with an original maturity of less than three months to be cash equivalents. The Company periodically maintains balances at financial institutions which may exceed Federal Deposit Insurance Corporation insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts.
Accounts receivable	Accounts receivable consist of trade receivables from customers and are recorded net of an allowance for doubtful accounts. The allowance for doubtful accounts is determined based upon a number of specific criteria, such as whether a customer has filed for or been placed into bankruptcy, has had accounts referred to outside parties for collections or has had accounts significantly past due. The allowance also covers short paid invoices the Company deems to be uncollectable as well as a portion of trade accounts receivable balances projected to become uncollectable based upon historic patterns and macro-economic factors in existence as of the balance sheet date that may impact the food-away-from-home industry and/or its customers, and specifically, beginning in the first quarter of fiscal 2020, the impact of the Pandemic.
Inventories	Inventories consist primarily of finished goods, food and related food products held for resale and are valued at the lower of cost or market. Our different entities record inventory using a mixture of first-in, first-out and average cost, which we believe approximates first-in, first-out. The Company adjusts inventory balances for excess and obsolete inventories to approximate their net realizable value.
Concentrations of Credit Risks	Financial instruments that subject the Company to concentrations of credit risk consist of cash, temporary cash investments and trade receivables. The Company’s policy is to deposit its cash and temporary cash investments with major financial institutions. The Company distributes its food and related products to a customer base that consists primarily of leading menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolateries, cruise lines, casinos and specialty food stores. To reduce credit risk, the Company performs ongoing credit evaluations of its customers’ financial conditions. The Company generally does not require collateral. However, the Company, in certain instances, has obtained personal guarantees from certain customers. There is no significant balance with any individual customer.
Equipment and Leasehold Improvements	Equipment and leasehold improvements are recorded at cost and are depreciated on a straight-line basis over the shorter of the estimated useful life of the asset or the lease term.
Leases	The Company leases various distribution centers, office facilities, vehicles and equipment. The Company determines if an arrangement contains a lease at contract inception. An arrangement is or contains a lease if the agreement identifies an asset, implicitly or explicitly, that the Company has the right to use over a period of time. If an arrangement contains a lease, the Company classifies the lease as either an operating lease or as a finance lease based on the five criteria defined in ASC 842. Lease liabilities are recognized at commencement date based on the present value of the remaining lease payments over the lease term. The corresponding right-of-use (“ROU”) asset is recognized for the same amount as the lease liability adjusted for any payments made at or before the commencement date, any lease incentives received, and any initial direct costs. The Company’s lease agreements may include options to renew, extend or terminate the lease. These clauses are included in the initial measurement of the lease liability when at lease commencement the Company is reasonably certain that it will exercise such options. The discount rate used is based on the Company’s incremental borrowing rate since the implicit rate in the Company’s leases is not readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term and presented within selling, general and administrative expenses on the Company’s consolidated statements of operations. Finance lease ROU assets are amortized on a straight-line basis over the shorter of the useful life of the asset or the lease term. Interest expense on the finance lease liability is recognized using the effective interest rate method and is presented within interest expense on the Company’s consolidated statements of operations. Variable rent payments related to both operating and finance leases are expensed as incurred. The Company’s variable lease payments primarily consist of real estate taxes, maintenance and usage charges. The Company made an accounting policy election to combine lease and non-lease components (maintenance, taxes and insurance) when measuring lease liabilities for vehicle and equipment leases. The Company has elected to exclude short-term leases from the recognition requirements of ASC 842. A lease is short-term if, at the commencement date, it has a term of less than or equal to one year. Lease expense related to short-term leases is recognized on a straight-line basis over the lease term.
Software Costs	The Company capitalizes certain computer software licenses and software implementation costs that are included in software costs in its consolidated balance sheets. These costs were incurred in connection with developing or obtaining computer software for internal use if it has a useful life in excess of one year, in accordance with Accounting Standards Codification (“ASC”) 350-40 “Internal-Use Software.” Subsequent additions, modifications or upgrades to internal-use software are capitalized only to the extent that they allow the software to perform a task that it previously did not perform. Internal use software is amortized on a straight-line basis over a three to seven year period. Capitalized costs include direct acquisitions as well as software and software development acquired under capitalized leases and internal labor where appropriate.
Impairment of Long-Lived Assets	Long-lived assets, other than goodwill, are reviewed for impairment in accordance with ASC 360-10-35-15, “Impairment or Disposal of Long-Lived Assets” which only requires testing whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. If any indicators are present, a recoverability test is performed by comparing the carrying amount of the asset to the net undiscounted cash flows expected to be generated from the asset. If the net undiscounted cash flows do not exceed the carrying amount (i.e., the asset is not recoverable), an additional step is performed that determines the fair value of the asset and the Company records an impairment, if any. The adverse impact to the Company’s customer base and market capitalization at the onset of the Pandemic were considered triggering events during the first quarter of fiscal 2020, and accordingly, the Company performed a long-lived asset recoverability test as of March 27, 2020 (more fully described in Note 9) the results of which indicated no impairment.
Convertible Debt and Debt Issuance Costs	The Company evaluates debt instruments with embedded conversion features in accordance with ASC 815 “Derivatives and Hedging” and ASC 470 “Debt” both of which provide several criteria that determine whether a conversion feature must be bifurcated from its debt host and accounted as a separate financial instrument. An entity is not required to bifurcate if the conversion feature is indexed to its own stock, meets all equity classification criteria and does not contain a beneficial conversion feature. The Company determined that bifurcation of its convertible debt instruments was not required and recognized the principal amount of these instruments as debt in its consolidated balance sheets.Certain up-front costs associated with the Company’s asset based loan facility are capitalized and included in other non-current assets in the Company’s consolidated balance sheets.
Business Combinations	The Company accounts for acquisitions in accordance with ASC 805 “Business Combinations.” Assets acquired and liabilities assumed are recorded in the accompanying consolidated balance sheets at their estimated fair values, as of the acquisition date. The excess of the purchase price over the fair values of identifiable assets and liabilities is recorded as goodwill. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred and presented in other operating expenses in the Company’s consolidated results of operations. Results of operations are included in the Company’s financial statements from the date of acquisition.
Intangible Assets	The intangible assets recorded by the Company consist of customer relationships, covenants not to compete and trademarks which are amortized over their useful lives on a schedule that approximates the pattern in which economic benefits of the intangible assets are consumed. Intangible assets with finite lives are tested for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If any indicators are present, a recoverability test is performed by comparing the carrying amount of the asset to the net undiscounted cash flows expected to be generated from the asset. Undiscounted cash flows expected to be generated by the related assets are estimated over the assets’ useful lives based on updated projections. If the evaluation indicates that the carrying amount of the asset may not be recoverable, the potential impairment is measured based on a projected discounted cash flow model. The adverse impact to the Company’s customer base and market capitalization at the onset of the Pandemic were considered triggering events during the first quarter of fiscal 2020, and accordingly, the Company performed a long-lived asset recoverability test as of March 27, 2020 (more fully described in Note 9) the results of which indicated no impairment.
Goodwill	Goodwill is the excess of the acquisition cost of businesses over the fair value of identifiable net assets acquired in accordance with ASC 350, “Intangibles-Goodwill and Other.” The Company’s business consists of three operating segments: East Coast, Midwest and West Coast and these operating segments represent our reporting units. The Company evaluates the recoverability of goodwill at each of its reporting units annually in the fourth quarter, or more frequently when circumstances indicate an impairment may have occurred. A goodwill impairment loss, if any, would be recognized for the amount by which a reporting unit’s carrying value exceeded its fair value. The Company has the option to evaluate goodwill impairment using a qualitative or quantitative analysis. The adverse impact to the Company’s customer base and market capitalization at the onset of the Pandemic were considered triggering events during the first quarter of fiscal 2020, and accordingly, the Company performed an interim goodwill impairment test as of March 27, 2020 (more fully described in Note 9) the results of which indicated no impairment. For its annual goodwill impairment test performed during the fourth quarter of fiscal 2020, the Company tested goodwill for impairment using a quantitative analysis. The Company estimated the fair value of its reporting units using an income approach and determined the fair value of its reporting units substantially exceeded their respective carry values. The Company’s income approach incorporates the use of a discounted cash flow methodology that involves many management assumptions that are based upon future growth projections which include estimates for the duration of the Pandemic’s impact on the Company’s customers. Assumptions include estimates of future revenue based upon budget projections and growth rates. The Company develops estimates of future levels of gross and operating profits and projected capital expenditures. This methodology includes the use of estimated discount rates based upon industry and competitor analysis as well as other factors. The Company also performed a reconciliation of its market capitalization and the estimate of the aggregate fair value of its reporting units, including consideration of a control premium. For the fiscal year ended December 27, 2019, the Company assessed the recoverability of goodwill using a qualitative analysis and determined that it is more likely than not that the fair value of its reporting units exceeded their respective carry values. The qualitative analysis considered various factors including macroeconomic conditions, market conditions, industry trends, cost factors and financial performance, among others.
Employee Benefit Programs	The Company sponsors a defined contribution plan covering substantially all full-time employees (the “401(k) Plan”).
Income Taxes	The Company accounts for income taxes in accordance with ASC 740, “Income Taxes.” Deferred tax assets or liabilities are recorded to reflect the future tax consequences of temporary differences between the financial reporting basis of assets and liabilities and their tax basis at each year-end. These amounts are adjusted, as appropriate, to reflect enacted changes in tax rates expected to be in effect when the temporary differences reverse. The Company estimates its ability to recover deferred tax assets within the jurisdiction from which they arise. This evaluation considers several factors, including results of recent operations, future taxable income, scheduled reversal of deferred tax liabilities, and tax planning strategies. As of December 25, 2020 and December 27, 2019, the Company had valuation allowances of $2,261 and $907, respectively, relating to certain net operating losses that may not be realizable in the future based on taxable income forecasts and certain state net operating loss limitations.The Company follows certain provisions of ASC 740, “Income Taxes” which established a single model to address accounting for uncertain tax positions and clarifies the accounting for income taxes by prescribing a minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. The Company evaluates uncertain tax positions, if any, by determining if it is more likely than not to be sustained upon examination by the tax authorities. The Company records uncertain tax positions when it is estimable and probable that such liabilities have been incurred. The Company, when required, will accrue interest and penalties related to income tax matters in income tax expense. The Company releases disproportionate tax effects from accumulated other comprehensive income as individual items are liquidated.
Commitments and Contingencies	The Company is subject to various claims and contingencies related to lawsuits, taxes and environmental matters, as well as commitments under contractual and other commercial obligations. The Company recognizes liabilities for contingencies and commitments when a loss is probable and can be reasonably estimated.
Contingent Earn-out Liabilities	The Company accounts for contingent consideration relating to business combinations as a liability and an increase to goodwill at the date of the acquisition and continually remeasures the liability at each balance sheet date by recording changes in the fair value through the consolidated statements of operations. The Company determines the fair value of contingent consideration based on future operating projections under various potential scenarios, including the use of Monte Carlo simulations, and weighs the probability of these outcomes. The ultimate settlement of contingent earn-out liabilities relating to business combinations may be for amounts which are materially different from the amounts initially recorded and may cause volatility in the Company’s results of operations.
Stock-Based Compensation	The Company measures stock-based compensation at the grant date based on the fair value of the award. Restricted stock awards (“RSAs”) and performance share units are valued based on the fair value of the stock on the grant date. The related compensation expense is recognized over the service period on a straight-line basis and reduced by forfeitures when they occur. Compensation expense on performance share units reflects the estimated probable outcome at the end of the performance period. The fair value of stock options and RSAs with market conditions is determined based on a Monte Carlo simulation in order to simulate a range of possible future stock prices for the Company’s common stock. For awards subject to graded vesting, the Company ensures that the compensation expense recognized is at least equal to the vested portion of the award.
Self-insurance Reserves	The Company maintains a self-insured group medical program. The program contains individual stop loss thresholds of $275 per incident and aggregate stop loss thresholds based upon the average number of employees enrolled in the program throughout the year. The amount in excess of the self-insured levels is fully insured by third party insurers. Liabilities associated with this program are estimated in part by considering historical claims experience and medical cost trends. Projections of future loss expenses are inherently uncertain because of the random nature of insurance claims occurrences and could be significantly affected if future occurrences and claims differ from these assumptions and historical trends. The Company maintains an insurance program for its automobile liability and workers’ compensation insurance subject to deductibles or self-insured retentions of $500 per occurrence. The amounts in excess of the deductibles are fully insured by third party insurers. Liabilities associated with this program are estimated in part by considering historical claims experience and cost trends. Projections of future loss expenses are inherently uncertain because of the random nature of insurance claims occurrences and could be significantly affected if future occurrences and claims differ from these assumptions and historical trends.
Assets and Liabilities Measured at Fair Value	The Company accounts for certain assets and liabilities at fair value. The Company categorizes each of its fair value measurements in one of the following three levels based on the lowest level input that is significant to the fair value measurement in its entirety: Level 1 - Inputs to the valuation methodology are unadjusted quoted prices in active markets for identical assets. Level 2 - Observable inputs other than quoted prices in active markets for identical assets and liabilities include the following: a)quoted prices for similar assets in active markets; b)quoted prices for identical or similar assets in inactive markets; c)inputs other than quoted prices that are observable for the asset; and d)inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset. Level 3 - Inputs to the valuation methodology are unobservable (i.e., supported by little or no market activity) and significant to the fair value measure.

Reclassifications (Tables)

12 Months Ended

Dec. 25, 2020

Accounting Changes and Error Corrections [Abstract]

Schedule of the impact of reclassifications

The aggregate impact of the above reclassifications on prior periods are as follows:


	Fiscal Years Ended
	December 27, 2019						December 28, 2018
	As Reported		Reclass		As Restated		As Reported		Reclass		As Restated
Net sales	$	1,591,834	$	—	$	1,591,834	$	1,444,609	$	—	$	1,444,609
Cost of sales	1,185,481		19,785		1,205,266		1,077,562		18,131		1,095,693
Gross profit	406,353		(19,785)		386,568		367,047		(18,131)		348,916
Operating expenses	355,585		(355,585)		—		318,289		(318,289)		—
Selling, general and administrative expenses	—		329,542		329,542		—		298,102		298,102
Other operating expenses	—		6,359		6,359		—		2,225		2,225
Operating income	50,768		(101)		50,667		48,758		(169)		48,589
Interest expense	18,264		—		18,264		20,745		—		20,745
Loss on asset disposal	101		(101)		—		169		(169)		—
Income before income taxes	32,403		—		32,403		27,844		—		27,844
Provision for income tax expense	8,210		—		8,210		7,442		—		7,442
Net income	$	24,193	$	—	$	24,193	$	20,402	$	—	$	20,402

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 25, 2020

Accounting Policies [Abstract]

Schedule of disaggregation of revenue

The following table presents the Company’s net sales disaggregated by principal product category:


	December 25, 2020				December 27, 2019				December 28, 2018
Center-of-the-Plate	$	533,813	48.0	%	$	711,980	44.7	%	$	629,038	43.5	%
Dry Goods	150,631		13.6	%	260,976		16.4	%	239,326		16.6	%
Pastry	135,913		12.2	%	221,041		13.9	%	199,990		13.8	%
Cheeses and Charcuterie	107,915		9.7	%	158,834		10.0	%	151,640		10.5	%
Produce	80,920		7.3	%	17,955		1.1	%	13,850		1.0	%
Dairy and Eggs	38,172		3.4	%	110,740		7.0	%	106,768		7.4	%
Oils and Vinegars	40,389		3.6	%	80,155		5.0	%	76,313		5.3	%
Kitchen Supplies	23,878		2.2	%	30,153		1.9	%	27,684		1.9	%
Total	$	1,111,631	100	%	$	1,591,834	100	%	$	1,444,609	100	%

Net Income per Share (Tables)

12 Months Ended

Dec. 25, 2020

Earnings Per Share [Abstract]

Schedule of earnings per share

The following table sets forth the computation of basic and diluted earnings per share:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Net (loss) income per share:
Basic	$	(2.46)	$	0.82	$	0.71
Diluted	$	(2.46)	$	0.81	$	0.70
Weighted average common shares:
Basic	33,716,157		29,532,342		28,703,265
Diluted	33,716,157		30,073,338		29,678,919

Reconciliation of net income per common share:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Numerator:
Net (loss) income	$	(82,903)	$	24,193	$	20,402
Add effect of dilutive securities:
Interest on convertible notes, net of tax	—		207		362
Adjusted net (loss) income	$	(82,903)	$	24,400	$	20,764
Denominator:
Weighted average basic common shares outstanding	33,716,157		29,532,342		28,703,265
Dilutive effect of stock options and unvested common shares	—		211,050		270,520
Dilutive effect of convertible notes	—		329,946		705,134
Weighted average diluted common shares outstanding	33,716,157		30,073,338		29,678,919

Schedule of dilutive securities that have been excluded from the calculation of diluted net income

Potentially dilutive securities that have been excluded from the calculation of diluted net income per common share because the effect is anti-dilutive are as follows:


	Fiscal Year Ended
	December 25, 2020	December 27, 2019	December 28, 2018
Restricted share awards	505,568	132,861	42
Stock options	115,639	—	—
Convertible notes	3,484,788	76,384	—

Fair Value Measurements (Tables)

12 Months Ended

Dec. 25, 2020

Fair Value Disclosures [Abstract]

Schedule of changes in level 3 contingent consideration liability

The following table presents the changes in Level 3 contingent earn-out liabilities:


	Del Monte		Fells Point		Bassian		Sid Wainer		Other Acquisitions		Total
Balance December 28, 2018	$	—	$	3,649	$	—	$	—	$	1,441	$	5,090
Acquisition value	—		—		7,450		—		479		7,929

Cash payments	(200)		(3,000)		—		—		(1,000)		(4,200)
Changes in fair value	200		3,895		507		—		1,277		5,879
Balance December 27, 2019	—		4,544		7,957		—		2,197		14,698
Acquisition value	—		—		—		2,081		1,383		3,464

Cash payments	—		—		(2,250)		—		(1,677)		(3,927)
Changes in fair value	—		(4,544)		(4,631)		(1,570)		(734)		(11,479)
Balance December 25, 2020	$	—	$	—	$	1,076	$	511	$	1,169	$	2,756

Schedule of carrying value and fair value of the company's convertible subordinated notes


	December 25, 2020				December 27, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Convertible Senior Notes	$	150,000	$	163,204	$	150,000	$	165,000
Convertible Unsecured Note	$	4,000	$	4,290	$	4,000	$	4,282

Acquisitions (Tables)

12 Months Ended

Dec. 25, 2020

Business Combinations [Abstract]

Schedule of pro forma consolidated income statement information


	Fiscal Years Ended
		December 25, 2020		December 27, 2019
Net sales		$	1,124,409	$	1,814,304
(Loss) income before income taxes		$	(124,611)	$	34,445

Schedule of assets acquired and liabilities assumed

The table below sets forth the purchase price allocation of these and other acquisitions:


	Sid Wainer		Bassian		Other Acquisitions
Current assets	$	22,960	$	6,657	$	6,795
Customer relationships	—		15,530		6,638
Trademarks	3,500		4,610		700
Non-compete agreements	—		1,000		—
Goodwill	11,571		13,065		5,892
Fixed assets	19,425		856		308
Other assets	—		10		—

Right-of-use assets	8,259		—		1,019
Lease liabilities	(8,259)		—		(1,019)


Current liabilities	(11,294)		(2,501)		(1,300)
Earn-out liability	(2,081)		(7,450)		(1,383)
Other long-term liabilities	—		—		(499)


Total consideration	$	44,081	$	31,777	$	17,151

Equipment, Leasehold Improvements and Software (Tables)

12 Months Ended

Dec. 25, 2020

Property, Plant and Equipment [Abstract]

Schedule of plant, equipment and leasehold improvements

Equipment, leasehold improvements and software as of December 25, 2020 and December 27, 2019 consisted of the following:



	Useful Lives	December 25, 2020		December 27, 2019
Land	Indefinite	$	5,020	$	1,170
Buildings	20 years	15,685		1,360
Machinery and equipment	5 - 10 years	24,900		21,718
Computers, data processing and other equipment	3 - 7 years	14,207		12,686
Software	3 - 7 years	33,063		29,305
Leasehold improvements	1- 40 years	68,747		70,903
Furniture and fixtures	7 years	3,412		3,309
Vehicles	5 - 7 years	21,873		6,410
Other	7 years	88		95
Construction-in-process		8,115		9,200
		195,110		156,156
Less: accumulated depreciation and amortization		(79,662)		(63,310)
Equipment, leasehold improvements and software, net		$	115,448	$	92,846

The components of depreciation and amortization expense were as follows:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Depreciation expense	$	14,984	$	9,535	$	7,142
Software amortization	$	4,790	$	3,793	$	3,154

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 25, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The changes in the carrying amount of goodwill are presented as follows:


Carrying amount as of December 28, 2018	$	184,280

Acquisitions	13,424
Foreign currency translation	39
Carrying amount as of December 27, 2019	197,743

Acquisitions	17,104
Foreign currency translation	17
Carrying amount as of December 25, 2020	$	214,864

Schedule of other intangible assets

Other intangible assets as of December 25, 2020 and December 27, 2019 consisted of the following:


	Weighted Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Amount
December 25, 2020
Customer relationships	128 months	$	141,679	$	(55,135)	$	86,544
Non-compete agreements	37 months	8,579		(7,752)		827
Trademarks	209 months	44,520		(20,174)		24,346
Total		$	194,778	$	(83,061)	$	111,717

December 27, 2019
Customer relationships	134 months	$	135,226	$	(45,454)	$	89,772
Non-compete agreements	49 months	8,579		(7,479)		1,100
Trademarks	193 months	64,505		(16,626)		47,879
Total		$	208,310	$	(69,559)	$	138,751

Schedule of estimated future amortization expense

As of December 25, 2020, estimated amortization expense for other intangible assets for each of the next five fiscal years and thereafter is as follows:


2021	$	12,163
2022	10,901
2023	9,872
2024	9,528
2025	9,369
Thereafter	59,884
Total	$	111,717

Debt Obligations (Tables)

12 Months Ended

Dec. 25, 2020

Debt Disclosure [Abstract]

Schedule of debt obligations

Debt obligations as of December 25, 2020 and December 27, 2019 consisted of the following:


	December 25, 2020		December 27, 2019
Senior secured term loan	$	201,553	$	238,129
Convertible senior notes	150,000		150,000
Asset-based loan facility	40,000		—
Finance lease and other financing obligations	15,798		3,905
Convertible unsecured note	4,000		4,000



Deferred finance fees and original issue discount	(7,172)		(9,207)
Total debt obligations	404,179		386,827
Less: current installments	(6,095)		(721)
Total debt obligations excluding current installments	$	398,084	$	386,106

Schedule of maturities of the company's debt

Maturities of the Company’s debt, excluding finance leases, for each of the next five years and thereafter at December 25, 2020 are as follows:


2021	$	1,712
2022	72,878
2023	5,712
2024	151,712
2025	163,539
Thereafter	—
Total	$	395,553

Schedule of term loans

The following table summarizes the key terms of the Term Loans as of December 25, 2020:

Term Loans

Principal Outstanding

Interest Rate

Maturity Date

Scheduled Principal Payments

2022 Tranche

31,166

LIBOR + 3.5%

June 22, 2022

none

2025 Tranche

170,387

LIBOR + 5.5%

June 22, 2025

0.25% per quarter

Stockholders' Equity (Tables)

12 Months Ended

Dec. 25, 2020

Stockholders' Equity Note [Abstract]

Schedule of restricted stock activity

The following table reflects the activity of RSAs during the fiscal year ended December 25, 2020:


	Time-based			Performance-based			Market-based
	Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value		Shares	Weighted Average Grant Date Fair Value




Unvested at December 27, 2019	286,917	$	29.94	426,740	$	26.01	26,952	$	30.16
Granted	799,371	13.91		187,806	30.85		30,318	27.70
Vested	(167,883)	27.88		(144,556)	20.36		—	—
Forfeited	(17,087)	28.73		(469,990)	30.35		(30,318)	27.70
Unvested at December 25, 2020	901,318	$	16.14	—	$	—	26,952	$	30.16

Summary of stock option activity

The following table summarizes stock option activity during the fiscal year ended December 25, 2020:


	Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term (in years)




Outstanding December 27, 2019	115,639	$	20.23	$	2,051	6.2
Granted	—	—
Exercised	—	—
Forfeited	—	—
Outstanding December 25, 2020	115,639	$	20.23	$	423	5.2
Exercisable at December 25, 2020	115,639	20.23		$	423	5.2

Leases (Tables)

12 Months Ended

Dec. 25, 2020

Leases [Abstract]

Components of lease expense

The components of net lease cost for the fiscal year ended December 25, 2020 and December 27, 2019 were as follows:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019
Operating lease cost	$	27,521	$	27,415
Finance lease cost:
Amortization of right-of-use asset	4,166		308
Interest expense on lease liabilities	552		96
Total finance lease cost	$	4,718	$	404
Short-term lease cost	2,475		2,143
Variable lease cost	1,990		2,707
Sublease income	(96)		(514)
Total lease cost, net	$	36,608	$	32,155

Maturities of lease liabilities, operating leases

The maturities of the Company’s lease liabilities for each of the next five fiscal years and thereafter at December 25, 2020 were as follows:



	Operating Leases								Finance Leases
	Related Party Real Estate		Third Party Real Estate		Vehicles and Equipment		Total		Vehicles and Equipment
2021	$	499	$	14,118	$	9,925	$	24,542	$	4,905
2022	509		13,518		8,160		22,187		3,814
2023	387		12,462		5,751		18,600		2,942
2024	—		11,418		2,190		13,608		2,411
2025	—		10,457		1,039		11,496		1,880
Thereafter	—		87,307		—		87,307		1,307
Total	$	1,395	$	149,280	$	27,065	$	177,740	$	17,259
Less interest							(51,440)		(1,461)
Present value							$	126,300	$	15,798

Maturities of lease liabilities, finance leases

The maturities of the Company’s lease liabilities for each of the next five fiscal years and thereafter at December 25, 2020 were as follows:



	Operating Leases								Finance Leases
	Related Party Real Estate		Third Party Real Estate		Vehicles and Equipment		Total		Vehicles and Equipment
2021	$	499	$	14,118	$	9,925	$	24,542	$	4,905
2022	509		13,518		8,160		22,187		3,814
2023	387		12,462		5,751		18,600		2,942
2024	—		11,418		2,190		13,608		2,411
2025	—		10,457		1,039		11,496		1,880
Thereafter	—		87,307		—		87,307		1,307
Total	$	1,395	$	149,280	$	27,065	$	177,740	$	17,259
Less interest							(51,440)		(1,461)
Present value							$	126,300	$	15,798

Supplemental balance sheet information

Supplemental balance sheet information related to finance leases was as follows:


	Balance Sheet Location	December 25, 2020		December 27, 2019
Short-term finance lease liabilities	Current portion of long-term debt	$	4,383	$	721
Long-term finance lease liabilities	Long-term debt, net of current portion	$	11,415	$	3,184

Income Taxes (Tables)

12 Months Ended

Dec. 25, 2020

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes

The provision for income taxes consists of the following:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Current income tax (benefit) expense:
Federal	$	(21,877)	$	4,003	$	2,945

State	(408)		2,144		1,943
Total current income tax (benefit) expense	(22,285)		6,147		4,888
Deferred income tax (benefit) expense:
Federal	(10,740)		1,617		2,363
Foreign	50		17		(472)
State	(7,728)		429		663
Total deferred income tax (benefit) expense	(18,418)		2,063		2,554
Total income tax (benefit) expense	$	(40,703)	$	8,210	$	7,442

Schedule of income tax reconciliation

Income tax (benefit) expense differed from amounts computed using the statutory federal income tax rate due to the following reasons:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Statutory U.S. Federal tax	$	(25,957)	$	6,805	$	5,847
Differences due to:
State and local taxes, net of federal benefit	(6,414)		2,078		1,906
Change in valuation allowance	1,354		95		523
Changes in tax rates	24		(95)		(432)
Federal NOL rate differential	(5,212)		—		—
Stock compensation	(102)		(676)		(197)
Other	(4,396)		3		(205)
Income tax (benefit) expense	$	(40,703)	$	8,210	$	7,442

Schedule of deferred tax assets and liabilities

Deferred tax assets and liabilities at December 25, 2020 and December 27, 2019 consist of the following:


	December 25, 2020		December 27, 2019
Deferred tax assets:
Receivables and inventory	$	10,944	$	4,468

Self-insurance reserves	2,210		1,957


Net operating loss carryforwards	15,413		1,393


Debt discount and interest	3,093		—
Stock compensation	1,686		1,894

Charitable contribution carryforward	3,166		368
Operating lease liabilities	34,460		37,740
Other	1,307		414
Total deferred tax assets	72,279		48,234

Deferred tax liabilities:
Property & equipment	(11,289)		(5,218)
Goodwill and intangible assets	(17,709)		(15,192)

Prepaid expenses and other	(2,071)		(2,905)
Operating lease right-of-use assets	(31,414)		(34,895)
Total deferred tax liabilities	(62,483)		(58,210)
Valuation allowance	(2,261)		(907)
Total net deferred tax asset (liability)	$	7,535	$	(10,883)

Schedule of operating (loss) income before income taxes for foreign subsidiaries

The Company’s foreign subsidiaries had operating (loss) income before income taxes as follows:


	Fiscal Year Ended
	December 25, 2020		December 27, 2019		December 28, 2018
Foreign subsidiaries operating (loss) income before income taxes	$	(4,231)	$	18	$	(3,223)

Supplemental Disclosures of Cash Flow Information (Tables)

12 Months Ended

Dec. 25, 2020

Supplemental Cash Flow Elements [Abstract]

Schedule of supplemental disclosures of cash flow information


	December 25, 2020		December 27, 2019		December 28, 2018
Cash paid for income taxes, net of cash received	$	308	$	6,046	$	4,825
Cash paid for interest	$	18,182	$	16,271	$	16,955
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	25,090	$	25,302	$	—
Operating cash flows from finance leases	$	3,856	$	96	$	—
ROU assets obtained in exchange for lease liabilities:
Operating leases	$	7,201	$	155,027	$	—
Finance leases	$	16,063	$	4,183	$	—
Non-cash investing and financing activities:

Conversion of subordinated notes and accrued interest into common stock	$	—	$	—	$	37,015




Contingent earn-out liabilities for acquisitions	$	3,464	$	7,929	$	1,414
Convertible notes issued for acquisitions	$	—	$	4,000	$	—

Valuation Reserves (Tables)

12 Months Ended

Dec. 25, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule of allowance for doubtful accounts

The following tables summarize the activity in our valuation accounts during the fiscal years ended December 25, 2020, December 27, 2019 and December 28, 2018:


	Balance at Beginning of Period		Additions Charged to Expense		Deductions		Balance at End of Period
Allowance for doubtful accounts
December 25, 2020	$	8,846	$	21,372	$	(6,191)	$	24,027
December 27, 2019	7,460		4,981		(3,595)		8,846
December 28, 2018	8,026		3,790		(4,356)		7,460

Schedule of allowance for deferred tax assets


Allowance for deferred tax assets
December 25, 2020	$	907	$	1,354	$	—	$	2,261
December 27, 2019	812		95		—		907
December 28, 2018	289		523		—		812

Quarterly Results (unaudited) (Tables)

12 Months Ended

Dec. 25, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly results

The quarterly results of the Company for the fiscal years ended December 25, 2020 and December 27, 2019, including the impacts of the reclassifications described in Note 2, are as follows:


	Fiscal 2020 (1)
	Q1 (2)		Q2		Q3		Q4 (3)
Net sales	$	375,431	$	200,496	$	254,030	$	281,674
Gross profit	85,488		43,426		60,362		58,875
Operating loss	(17,058)		(25,409)		(11,925)		(48,268)
Loss before income taxes	(22,182)		(31,181)		(16,631)		(53,612)
Net loss	(14,085)		(20,334)		(11,427)		(37,057)
Basic net loss per share	(0.48)		(0.62)		(0.31)		(1.02)
Diluted net loss per share	(0.48)		(0.62)		(0.31)		(1.02)


	Fiscal 2019
	Q1		Q2		Q3		Q4
Net sales	$	357,027	$	411,420	$	396,880	$	426,507
Gross profit	85,471		101,677		96,994		102,426
Operating profit	6,116		15,530		10,624		18,397
Income before income taxes	1,565		10,685		6,107		14,046
Net income	1,134		7,746		4,425		10,888
Basic net income per share	0.04		0.26		0.15		0.37
Diluted net income per share	0.04		0.26		0.15		0.36

(1)The Company’s results for fiscal 2020 were materially adversely impacted due to the Pandemic.

(2)The Company began reflecting the results of the Sid Wainer acquisition in the first quarter of 2020.

(3)Includes $24,200 intangible asset impairment charge.

Operations and Basis of Presentation (Details) $ in Thousands	12 Months Ended
	Dec. 25, 2020 USD ($) segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments \| segment	3
Number of reportable segments \| segment	1
Incremental bad debt expense related to COVID-19 pandemic \| $	$ 15,800
Incremental inventory obsolescence related to COVID-19 pandemic \| $	$ 14,600

Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Reclassifications (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Sep. 25, 2020	Jun. 26, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Reclassification [Line Items]
Net sales	$ 281,674	$ 254,030	$ 200,496	$ 375,431	$ 426,507	$ 396,880	$ 411,420	$ 357,027	$ 1,111,631	$ 1,591,834	$ 1,444,609
Cost of sales									863,480	1,205,266	1,095,693
Gross profit	58,875	60,362	43,426	85,488	102,426	96,994	101,677	85,471	248,151	386,568	348,916
Operating expenses										0	0
Selling, general and administrative expenses									336,394	329,542	298,102
Other operating expenses									14,417	6,359	2,225
Operating (loss) income	(48,268)	(11,925)	(25,409)	(17,058)	18,397	10,624	15,530	6,116	(102,660)	50,667	48,589
Interest expense									20,946	18,264	20,745
Loss on asset disposal									151	101	169
(Loss) income before income taxes	(53,612)	(16,631)	(31,181)	(22,182)	14,046	6,107	10,685	1,565	(123,606)	32,403	27,844
Provision for income tax expense									(40,703)	8,210	7,442
Net (loss) income	$ (37,057)	$ (11,427)	$ (20,334)	$ (14,085)	$ 10,888	$ 4,425	$ 7,746	$ 1,134	$ (82,903)	24,193	20,402
As Reported
Reclassification [Line Items]
Net sales										1,591,834	1,444,609
Cost of sales										1,185,481	1,077,562
Gross profit										406,353	367,047
Operating expenses										355,585	318,289
Selling, general and administrative expenses										0	0
Other operating expenses										0	0
Operating (loss) income										50,768	48,758
Interest expense										18,264	20,745
Loss on asset disposal										101	169
(Loss) income before income taxes										32,403	27,844
Provision for income tax expense										8,210	7,442
Net (loss) income										24,193	20,402
Reclass
Reclassification [Line Items]
Net sales										0	0
Cost of sales										19,785	18,131
Gross profit										(19,785)	(18,131)
Operating expenses										(355,585)	(318,289)
Selling, general and administrative expenses										329,542	298,102
Other operating expenses										6,359	2,225
Operating (loss) income										(101)	(169)
Interest expense										0	0
Loss on asset disposal										(101)	(169)
(Loss) income before income taxes										0	0
Provision for income tax expense										0	0
Net (loss) income										$ 0	$ 0

Summary of Significant Accounting Policies - Narrative (Details)	3 Months Ended	12 Months Ended
	Dec. 25, 2020 USD ($)	Dec. 25, 2020 USD ($) segment	Dec. 27, 2019 USD ($)	Dec. 28, 2018 USD ($)	Dec. 29, 2017 USD ($)
Disaggregation of Revenue [Line Items]
Deferred revenues	$ 2,558,000	$ 2,558,000	$ 1,345,000
Refund liability	174,000	174,000	314,000
Right to recover product	$ 107,000	$ 107,000	194,000
Contract costs, amortization period (in years)	1 year	1 year
Cost of sales		$ 863,480,000	1,205,266,000	$ 1,095,693,000
Selling, general and administrative expenses		336,394,000	329,542,000	298,102,000
Purchase incentives		12,678,000	21,769,000	19,731,000
Capitalized software costs, net of accumulated amortization	$ 14,087,000	14,087,000	15,203,000
Impairment of long-lived assets		0	0	0
Unamortized costs of certain up-front costs	1,429,000	1,429,000	1,363,000
Unamortized costs if issuance of other debt instruments	7,172,000	7,172,000	9,207,000
Amortization of debt issuance costs		3,426,000	2,168,000	3,155,000
Write-off of unamortized deferred financing fees				1,081,000
Intangible asset impairment	24,200,000	$ 24,200,000	0	0
Intangible asset impairment, net of tax	17,545,000
Number of operating segments \| segment		3
Matching contribution under 401k plan		$ 720,000	1,268,000	1,097,000
Self-insurance stoploss threshold		275,000
Allowance for deferred tax assets
Disaggregation of Revenue [Line Items]
Valuation allowances	$ 2,261,000	2,261,000	907,000	812,000	$ 289,000
Workers Compensation
Disaggregation of Revenue [Line Items]
Self insured retention amount per claim		500,000
Automobiles
Disaggregation of Revenue [Line Items]
Self insured retention amount per claim		500,000
Food Processing
Disaggregation of Revenue [Line Items]
Cost of sales		18,682,000	19,785,000	18,131,000
Shipping and Handling
Disaggregation of Revenue [Line Items]
Selling, general and administrative expenses		$ 78,152,000	$ 85,620,000	$ 79,143,000
Minimum
Disaggregation of Revenue [Line Items]
Payment terms for contracts with customers (in days)		20 days
Minimum \| Software and Software Development Costs
Disaggregation of Revenue [Line Items]
Useful life of computer software (in years)		3 years
Maximum
Disaggregation of Revenue [Line Items]
Payment terms for contracts with customers (in days)		60 days
Maximum \| COVID-19 Pandemic
Disaggregation of Revenue [Line Items]
Payment terms for contracts with customers (in days)		30 days
Maximum \| Software and Software Development Costs
Disaggregation of Revenue [Line Items]
Useful life of computer software (in years)		7 years

Summary of Significant Accounting Policies - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 25, 2020	Sep. 25, 2020	Jun. 26, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 281,674	$ 254,030	$ 200,496	$ 375,431	$ 426,507	$ 396,880	$ 411,420	$ 357,027	$ 1,111,631	$ 1,591,834	$ 1,444,609
Net Sales \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total net sales									100.00%	100.00%	100.00%
Center-of-the-Plate
Disaggregation of Revenue [Line Items]
Net sales									$ 533,813	$ 711,980	$ 629,038
Center-of-the-Plate \| Net Sales \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total net sales									48.00%	44.70%	43.50%
Dry Goods
Disaggregation of Revenue [Line Items]
Net sales									$ 150,631	$ 260,976	$ 239,326
Dry Goods \| Net Sales \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total net sales									13.60%	16.40%	16.60%
Pastry
Disaggregation of Revenue [Line Items]
Net sales									$ 135,913	$ 221,041	$ 199,990
Pastry \| Net Sales \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total net sales									12.20%	13.90%	13.80%
Cheeses and Charcuterie
Disaggregation of Revenue [Line Items]
Net sales									$ 107,915	$ 158,834	$ 151,640
Cheeses and Charcuterie \| Net Sales \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total net sales									9.70%	10.00%	10.50%
Produce
Disaggregation of Revenue [Line Items]
Net sales									$ 80,920	$ 17,955	$ 13,850
Produce \| Net Sales \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total net sales									7.30%	1.10%	1.00%
Dairy and Eggs
Disaggregation of Revenue [Line Items]
Net sales									$ 38,172	$ 110,740	$ 106,768
Dairy and Eggs \| Net Sales \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total net sales									3.40%	7.00%	7.40%
Oils and Vinegars
Disaggregation of Revenue [Line Items]
Net sales									$ 40,389	$ 80,155	$ 76,313
Oils and Vinegars \| Net Sales \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total net sales									3.60%	5.00%	5.30%
Kitchen Supplies
Disaggregation of Revenue [Line Items]
Net sales									$ 23,878	$ 30,153	$ 27,684
Kitchen Supplies \| Net Sales \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total net sales									2.20%	1.90%	1.90%

Net Income per Share - Schedule of earnings per share (Details) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 25, 2020	Sep. 25, 2020	Jun. 26, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Net income per share:
Basic (in dollars per share)	$ (1.02)	$ (0.31)	$ (0.62)	$ (0.48)	$ 0.37	$ 0.15	$ 0.26	$ 0.04	$ (2.46)	$ 0.82	$ 0.71
Diluted (in dollars per share)	$ (1.02)	$ (0.31)	$ (0.62)	$ (0.48)	$ 0.36	$ 0.15	$ 0.26	$ 0.04	$ (2.46)	$ 0.81	$ 0.70
Weighted average common shares:
Basic (in shares)									33,716,157	29,532,342	28,703,265
Diluted (in shares)									33,716,157	30,073,338	29,678,919

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Net Income per Share - Schedule of reconciliation of earnings per share (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 25, 2020	Sep. 25, 2020	Jun. 26, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Net Income (Loss) Available to Common Stockholders, Basic [Abstract]
Net (loss) income	$ (37,057)	$ (11,427)	$ (20,334)	$ (14,085)	$ 10,888	$ 4,425	$ 7,746	$ 1,134	$ (82,903)	$ 24,193	$ 20,402
Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]
Interest on convertible notes, net of tax									0	207	362
Adjusted net (loss) income									$ (82,903)	$ 24,400	$ 20,764
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Weighted average basic common shares outstanding (in shares)									33,716,157	29,532,342	28,703,265
Dilutive effect of stock options and unvested common shares (in shares)									0	211,050	270,520
Dilutive effect of convertible notes (in shares)									0	329,946	705,134
Weighted average diluted common shares outstanding (in shares)									33,716,157	30,073,338	29,678,919

Net Income per Share - Schedule of dilutive securities that have been excluded from the calculation of diluted net income (Details) - shares	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Restricted share awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	505,568	132,861	42
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	115,639	0	0
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares (in shares)	3,484,788	76,384	0

Fair Value Measurements - Summary of Changes in Level 3 Contingent Consideration Liability (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2019	Dec. 25, 2020	Dec. 27, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning		$ 14,698	$ 5,090
Acquisition value		3,464	7,929
Cash payments		(3,927)	(4,200)
Changes in fair value		(11,479)	5,879
Balance at ending		2,756	14,698
Del Monte
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning		0	0
Acquisition value		0	0
Cash payments		0	(200)
Changes in fair value	$ 200	0	200
Balance at ending		0	0
Fells Point
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning		4,544	3,649
Acquisition value		0	0
Cash payments		0	(3,000)
Changes in fair value		(4,544)	3,895
Balance at ending		0	4,544
Bassian
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning		7,957	0
Acquisition value		0	7,450
Cash payments		(2,250)	0
Changes in fair value		(4,631)	507
Balance at ending		1,076	7,957
Sid Wainer
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning		0	0
Acquisition value		2,081	0
Cash payments		0	0
Changes in fair value		(1,570)	0
Balance at ending		511	0
Other Acquisitions
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning		2,197	1,441
Acquisition value		1,383	479
Cash payments		(1,677)	(1,000)
Changes in fair value		(734)	1,277
Balance at ending		$ 1,169	$ 2,197

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2019	Dec. 25, 2020	Dec. 27, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Changes in fair value		$ (11,479)	$ 5,879
Long-term liability value		2,556	7,957
Del Monte
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Changes in fair value	$ 200	$ 0	$ 200

Fair Value Measurements - Summary of the Carrying Value and Fair Value of Convertible Subordinated Notes (Details) - Fair Value Inputs Level 3 - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Senior Notes \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible Notes	$ 150,000	$ 150,000
Senior Notes \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible Notes	163,204	165,000
Unsecured Debt \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible Notes	4,000	4,000
Unsecured Debt \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible Notes	$ 4,290	$ 4,282

Acquisitions - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Jan. 27, 2020	Feb. 25, 2019	Dec. 25, 2020	Dec. 27, 2019
Business Acquisition [Line Items]
Professional fees			$ 435	$ 235
Other Strategic Acquisitions
Business Acquisition [Line Items]
Payments for asset acquisitions			16,851	$ 300
Sid Wainer
Business Acquisition [Line Items]
Purchase price	$ 44,081
Cash amount paid	46,450
Cash received	2,369
Additional contingent consideration, amount	$ 4,000
Additional contingent consideration, term (in years)	2 years
Estimated fair value of contingent earn-out liability	$ 2,081		511
Net sales of acquiree since acquisition date			89,638
Operating earnings (loss) of acquiree since acquisition date			$ (9,598)
Bassian
Business Acquisition [Line Items]
Purchase price		$ 31,777
Cash amount paid		27,990
Additional contingent consideration, amount		$ 9,000
Additional contingent consideration, term (in years)		4 years
Estimated fair value of contingent earn-out liability		$ 7,450
Liabilities incurred		$ 4,000
Bassian \| Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets, amortization period (in years)		15 years
Bassian \| Non-compete agreements
Business Acquisition [Line Items]
Finite-lived intangible assets, amortization period (in years)		5 years
Bassian \| Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets, amortization period (in years)		10 years

Acquisitions - Pro Forma Consolidated Income Statement Information (Details) - Sid Wainer - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019
Business Acquisition [Line Items]
Net sales	$ 1,124,409	$ 1,814,304
(Loss) income before income taxes	$ (124,611)	$ 34,445

Acquisitions - Summary of Cash Price for Acquisition (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Sep. 25, 2020	Jan. 27, 2020	Dec. 27, 2019	Feb. 25, 2019	Dec. 28, 2018
Business Acquisition [Line Items]
Goodwill	$ 214,864			$ 197,743		$ 184,280
Sid Wainer
Business Acquisition [Line Items]
Current assets			$ 22,960
Goodwill			11,571
Fixed assets			19,425
Other assets			0
Right-of-use assets			8,259
Lease liabilities			(8,259)
Current liabilities			(11,294)
Earn-out liability	$ (511)		(2,081)
Other long-term liabilities			0
Total consideration			44,081
Sid Wainer \| Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets			0
Sid Wainer \| Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets			3,500
Sid Wainer \| Non-compete agreements
Business Acquisition [Line Items]
Finite-lived intangible assets			$ 0
Bassian
Business Acquisition [Line Items]
Current assets					$ 6,657
Goodwill					13,065
Fixed assets					856
Other assets					10
Right-of-use assets					0
Lease liabilities					0
Current liabilities					(2,501)
Earn-out liability					(7,450)
Other long-term liabilities					0
Total consideration					31,777
Bassian \| Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets					15,530
Bassian \| Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets					4,610
Bassian \| Non-compete agreements
Business Acquisition [Line Items]
Finite-lived intangible assets					$ 1,000
Other Acquisitions
Business Acquisition [Line Items]
Current assets		$ 6,795
Goodwill		5,892
Fixed assets		308
Other assets		0
Right-of-use assets		1,019
Lease liabilities		(1,019)
Current liabilities		(1,300)
Earn-out liability		(1,383)
Other long-term liabilities		(499)
Total consideration		17,151
Other Acquisitions \| Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets		6,638
Other Acquisitions \| Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets		700
Other Acquisitions \| Non-compete agreements
Business Acquisition [Line Items]
Finite-lived intangible assets		$ 0

Inventories - Narrative (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Inventory Disclosure [Abstract]
Reserves for shrinkage, excess and obsolescence	$ 9,013	$ 1,937

Equipment, Leasehold Improvements and Software (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019
Property, Plant and Equipment [Line Items]
Equipment, leasehold improvements and software, gross	$ 195,110	$ 156,156
Less: accumulated depreciation and amortization	(79,662)	(63,310)
Equipment, leasehold improvements and software, net	115,448	92,846
Land
Property, Plant and Equipment [Line Items]
Equipment, leasehold improvements and software, gross	$ 5,020	1,170
Buildings
Property, Plant and Equipment [Line Items]
Useful Lives	20 years
Equipment, leasehold improvements and software, gross	$ 15,685	1,360
Machinery and equipment
Property, Plant and Equipment [Line Items]
Equipment, leasehold improvements and software, gross	24,900	21,718
Computers, data processing and other equipment
Property, Plant and Equipment [Line Items]
Equipment, leasehold improvements and software, gross	14,207	12,686
Software
Property, Plant and Equipment [Line Items]
Equipment, leasehold improvements and software, gross	33,063	29,305
Leasehold improvements
Property, Plant and Equipment [Line Items]
Equipment, leasehold improvements and software, gross	$ 68,747	70,903
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Equipment, leasehold improvements and software, gross	$ 3,412	3,309
Vehicles
Property, Plant and Equipment [Line Items]
Equipment, leasehold improvements and software, gross	$ 21,873	6,410
Other
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Equipment, leasehold improvements and software, gross	$ 88	95
Construction-in-process
Property, Plant and Equipment [Line Items]
Equipment, leasehold improvements and software, gross	$ 8,115	$ 9,200
Minimum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Minimum \| Computers, data processing and other equipment
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Minimum \| Software
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Minimum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful Lives	1 year
Minimum \| Vehicles
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Maximum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful Lives	10 years
Maximum \| Computers, data processing and other equipment
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Maximum \| Software
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Maximum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful Lives	40 years
Maximum \| Vehicles
Property, Plant and Equipment [Line Items]
Useful Lives	7 years

Equipment, Leasehold Improvements and Software - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Property, Plant and Equipment [Line Items]
Book value of equipment under finance leases	$ 115,448,000	$ 92,846,000
Capitalized interest expense	0	0	$ 0
Assets held under finance leases
Property, Plant and Equipment [Line Items]
Book value of equipment under finance leases	$ 14,705,000	$ 3,905,000

Equipment, Leasehold Improvements and Software - Depreciation and Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Property, Plant and Equipment [Line Items]
Depreciation expense and amortization	$ 19,774	$ 13,328	$ 10,296
Excluding assets held under finance leases
Property, Plant and Equipment [Line Items]
Depreciation expense and amortization	14,984	9,535
Excluding assets held under capital leases
Property, Plant and Equipment [Line Items]
Depreciation expense and amortization			7,142
Software
Property, Plant and Equipment [Line Items]
Depreciation expense and amortization	$ 4,790	$ 3,793	$ 3,154

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019
Goodwill [Roll Forward]
Beginning balance	$ 197,743	$ 184,280
Acquisitions	17,104	13,424
Foreign currency translation	17	39
Ending balance	$ 214,864	$ 197,743

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 25, 2020	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018	Mar. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment					$ 0
Intangible asset impairment	$ 24,200,000	$ 24,200,000	$ 0	$ 0
Intangible asset impairment, net of tax	$ 17,545,000
Amortization expense		$ 13,502,000	$ 12,663,000	$ 11,910,000

Goodwill and Other Intangible Assets - Intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 194,778	$ 208,310
Accumulated Amortization	(83,061)	(69,559)
Net Amount	$ 111,717	$ 138,751
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (in months)	128 months	134 months
Gross Carrying Amount	$ 141,679	$ 135,226
Accumulated Amortization	(55,135)	(45,454)
Net Amount	$ 86,544	$ 89,772
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (in months)	37 months	49 months
Gross Carrying Amount	$ 8,579	$ 8,579
Accumulated Amortization	(7,752)	(7,479)
Net Amount	$ 827	$ 1,100
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization Period (in months)	209 months	193 months
Gross Carrying Amount	$ 44,520	$ 64,505
Accumulated Amortization	(20,174)	(16,626)
Net Amount	$ 24,346	$ 47,879

Goodwill and Other Intangible Assets - Future amortization (Details) $ in Thousands	Dec. 25, 2020 USD ($)
Estimated amortization in fiscal year:
2021	$ 12,163
2022	10,901
2023	9,872
2024	9,528
2025	9,369
Thereafter	59,884
Total	$ 111,717

Debt Obligations - Schedule of debt obligations (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Debt Instrument [Line Items]
Finance lease and other financing obligations	$ 15,798	$ 3,905
Deferred finance fees and original issue discount	(7,172)	(9,207)
Total debt obligations	404,179	386,827
Less: current installments	(6,095)	(721)
Total debt obligations excluding current installments	398,084	386,106
Senior secured term loan
Debt Instrument [Line Items]
Long-term debt	201,553	238,129
Convertible senior notes
Debt Instrument [Line Items]
Long-term debt	150,000	150,000
Asset-based loan facility
Debt Instrument [Line Items]
Long-term debt	40,000	0
Convertible unsecured note
Debt Instrument [Line Items]
Long-term debt	$ 4,000	$ 4,000

Debt Obligations - Schedule of maturities of the company's debt (Details) $ in Thousands	Dec. 25, 2020 USD ($)
Long-term Debt and Lease Obligation, Including Current Maturities [Abstract]
2021	$ 1,712
2022	72,878
2023	5,712
2024	151,712
2025	163,539
Thereafter	0
Total	$ 395,553

Debt Obligations - Senior Secured Term Loan Credit Facility (Details)						12 Months Ended
	Jun. 08, 2020 USD ($)	Nov. 16, 2018 USD ($)	Jul. 06, 2018 USD ($)	Dec. 13, 2017 USD ($)	Jun. 22, 2016 USD ($)	Dec. 25, 2020 USD ($)	Dec. 27, 2019 USD ($)	Dec. 28, 2018 USD ($)
Debt Instrument [Line Items]
Payments of debt financing costs						$ 856,000	$ 5,082,000	$ 1,502,000
Payments under revolving credit line						60,000,000	44,184,000	$ 2,916,000
Debt issuance costs						1,429,000	$ 1,363,000
Credit facility \| Term Loan Credit Agreement
Debt Instrument [Line Items]
Maximum debt borrowing capacity					$ 305,000,000
Payments of debt financing costs		$ 626,000		$ 761,000
Payments under revolving credit line			$ 47,100,000
Write off, unamortized deferred financing fees		$ 1,081,000
Debt issuance costs	$ 856,000
Debt transaction costs	1,233,000
Minimum liquidity covenant						35,000,000
EBITDA covenant						10,000,000
Minimum liquidity amount						$ 248,852,000
Effective interest rate						5.30%
Credit facility \| Term Loan Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Basis points		3.50%		4.00%	4.75%
Credit facility \| Delayed Draw Term Loan
Debt Instrument [Line Items]
Maximum debt borrowing capacity					$ 50,000,000
Budgeted leverage ratio					4.90
Credit facility \| 2025 Tranche
Debt Instrument [Line Items]
Term loans	$ 238,129,000
Term loans, maturity date extension (in years)	3 years
Prepayment	$ 35,719,000
Credit facility \| 2025 Tranche \| Base Rate
Debt Instrument [Line Items]
Basis points	2.00%
Convertible senior notes \| Convertible 1.875% Senior Notes
Debt Instrument [Line Items]
Interest rate						1.875%

Debt Obligations - Schedule of Term Loans (Details) - Senior secured term loan - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019
Debt Instrument [Line Items]
Term Loans, Principle Outstanding	$ 201,553	$ 238,129
2022 Tranche
Debt Instrument [Line Items]
Term Loans, Principle Outstanding	$ 31,166
2022 Tranche \| LIBOR
Debt Instrument [Line Items]
Term Loans, Interest Rate (as a percent)	3.50%
2025 Tranche
Debt Instrument [Line Items]
Term Loans, Principle Outstanding	$ 170,387
Term Loans, Scheduled Principle Payments (as a percent)	0.25%
2025 Tranche \| LIBOR
Debt Instrument [Line Items]
Term Loans, Interest Rate (as a percent)	5.50%

Debt Obligations - Asset-Based Loan Facility (Details)	Jun. 29, 2018 USD ($)	Dec. 25, 2020 USD ($)	Dec. 27, 2019 USD ($)	Jun. 28, 2019 USD ($)
Debt Instrument [Line Items]
Deferred financing fees		$ 7,172,000	$ 9,207,000
Asset-based loan facility \| ABL Credit Agreement
Debt Instrument [Line Items]
Maximum debt borrowing capacity				$ 150,000,000
Potential principal amount increase				25,000,000
Deferred financing fees				$ 877,000
Minimum consolidated fixed charge coverage ratio	1
Minimum borrowing base	$ 10,000,000
Minimum borrowing base, percentage	10.00%
Amounts reserved for issuance of letters of credit		20,141,000
Line of credit facility, current borrowing capacity		$ 50,282,000
Effective interest rate		1.90%

Debt Obligations - Convertible Senior Notes (Details) - USD ($)		12 Months Ended
	Nov. 22, 2019	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Debt Instrument [Line Items]
Payments under revolving credit line		$ 60,000,000	$ 44,184,000	$ 2,916,000
Unamortized costs of certain up-front costs		$ 1,429,000	$ 1,363,000
Convertible senior notes \| 1.875% Convertible Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 150,000,000
Interest rate	1.875%
Unamortized costs of certain up-front costs	$ 5,082,000
Conversion price (in dollars per share)	$ 44.20
Asset-based loan facility \| ABL Credit Agreement
Debt Instrument [Line Items]
Payments under revolving credit line	$ 43,225,000

Debt Obligations - Convertible Unsecured Debt (Details) - Convertible senior notes - Convertible note maturing on June 29, 2023	Feb. 25, 2019 USD ($) $ / shares
Debt Instrument [Line Items]
Principal amount \| $	$ 4,000,000
Interest rate	4.50%
Interest rate, after two-year anniversary	5.00%
Earliest date term (in years)	2 years
Conversion price (in dollars per share) \| $ / shares	$ 43.93

Stockholders' Equity - Narrative (Details)				3 Months Ended	12 Months Ended
Stockholders' Equity - Narrative (Details)	Jun. 02, 2020 USD ($)	May 14, 2020 USD ($) $ / shares shares	Jul. 25, 2018 USD ($) shares	Dec. 25, 2020 USD ($) employee shares	Dec. 25, 2020 USD ($) $ / shares shares	Dec. 27, 2019 USD ($)	Dec. 28, 2018 USD ($)	Mar. 22, 2020 $ / shares shares	May 17, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt converted					$ 0	$ 0	$ 37,015,000
Weighted average remaining term (in years)					10 years
Number of shares available for grant (in shares) \| shares				1,562,724	1,562,724				2,600,000
Stock compensation expense					$ 9,292,000	4,399,000	4,094,000
Tax benefit for stock compensation					133,000	883,000	864,000
Number of employees affected by award plan modifications \| employee				17
Incremental stock compensation expense resulting from award plan modifications				$ 1,999,000
Compensation expense capitalized					$ 0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining term (in years)					1 year 10 months 24 days
Fair value of RSAs vested					$ 8,109,000	3,742,000	2,936,000
Total unrecognized compensation cost				9,523,000	$ 9,523,000
Time and Performance Based Grants \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)					4 years
Time-Based Restricted Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining term (in years)					1 year 10 months 24 days
Total unrecognized compensation cost				9,180,000	$ 9,180,000
Performance-Based Restricted Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining term (in years)					1 year 6 months
Vesting period (in years)					3 years
Total unrecognized compensation cost				$ 343,000	$ 343,000
Market-based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Per share weighted average price of shares purchased (in dollars per share) \| $ / shares					$ 39.86
Common stock trading period (in days)					20 days
Risk free interest rate					2.20%
Expected volatility rate					44.60%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock or unit option plan expense					$ 0	$ 114,000	$ 601,000
Convertible unsecured note \| Convertible Subordinated Notes Effective April 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Debt converted			$ 36,750,000
Converted instrument			$ 265,000
Conversion of subordinated notes (in shares) \| shares			1,246,272
Public Stock Offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares sold in offering (in shares) \| shares		5,769,231
Offering price per share (in dollars per share) \| $ / shares		$ 13.00
Aggregate net proceeds from stock offering		$ 74,691,000
Over-Allotment Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares sold in offering (in shares) \| shares		865,384
Offering price per share (in dollars per share) \| $ / shares		$ 13.00
Aggregate net proceeds from stock offering	$ 11,250,000
Series A Preferred Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares that can be purchased by each Right (in shares) \| shares								0.001
Exercise price of right (in dollars per share) \| $ / shares								$ 40.00

Stockholders' Equity - Schedule of restricted stock activity (Details)	12 Months Ended
	Dec. 25, 2020 $ / shares shares
Time-based
Shares
Unvested at beginning (in shares) \| shares	286,917
Granted (in shares) \| shares	799,371
Vested (in shares) \| shares	(167,883)
Forfeited (in shares) \| shares	(17,087)
Unvested at ending (in shares) \| shares	901,318
Weighted Average Grant Date Fair Value
Unvested at beginning (in dollars per share) \| $ / shares	$ 29.94
Granted (in dollars per share) \| $ / shares	13.91
Vested (in dollars per share) \| $ / shares	27.88
Forfeited (in dollars per share) \| $ / shares	28.73
Unvested at ending (in dollars per share) \| $ / shares	$ 16.14
Performance-based
Shares
Unvested at beginning (in shares) \| shares	426,740
Granted (in shares) \| shares	187,806
Vested (in shares) \| shares	(144,556)
Forfeited (in shares) \| shares	(469,990)
Unvested at ending (in shares) \| shares	0
Weighted Average Grant Date Fair Value
Unvested at beginning (in dollars per share) \| $ / shares	$ 26.01
Granted (in dollars per share) \| $ / shares	30.85
Vested (in dollars per share) \| $ / shares	20.36
Forfeited (in dollars per share) \| $ / shares	30.35
Unvested at ending (in dollars per share) \| $ / shares	$ 0
Market-based
Shares
Unvested at beginning (in shares) \| shares	26,952
Granted (in shares) \| shares	30,318
Vested (in shares) \| shares	0
Forfeited (in shares) \| shares	(30,318)
Unvested at ending (in shares) \| shares	26,952
Weighted Average Grant Date Fair Value
Unvested at beginning (in dollars per share) \| $ / shares	$ 30.16
Granted (in dollars per share) \| $ / shares	27.70
Vested (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	27.70
Unvested at ending (in dollars per share) \| $ / shares	$ 30.16

Stockholders' Equity - Summary of stock option activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019
Shares
Outstanding (in shares)	115,639
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Outstanding (in shares)	115,639	115,639
Exercisable (in shares)	115,639
Weighted Average Exercise Price
Outstanding (in usd per share)	$ 20.23
Granted (in usd per share)	0
Exercised (in usd per share)	0
Forfeited (in usd per share)	0
Outstanding (in usd per share)	20.23	$ 20.23
Exercisable (in usd per share)	$ 20.23
Aggregate Intrinsic Value
Outstanding	$ 423	$ 2,051
Exercisable	$ 423
Weighted Average Remaining Contractual Term (in years)
Outstanding	5 years 2 months 12 days	6 years 2 months 12 days
Exercisable	5 years 2 months 12 days

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019
Leases [Abstract]
Operating lease cost	$ 27,521	$ 27,415
Finance lease cost:
Amortization of right-of-use asset	4,166	308
Interest expense on lease liabilities	552	96
Total finance lease cost	4,718	404
Short-term lease cost	2,475	2,143
Variable lease cost	1,990	2,707
Sublease income	(96)	(514)
Total lease cost, net	$ 36,608	$ 32,155

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Operating Leases, After Adoption of 842:
2021	$ 24,542
2022	22,187
2023	18,600
2024	13,608
2025	11,496
Thereafter	87,307
Total	177,740
Less interest	(51,440)
Present value	126,300
Finance Leases, After Adoption of 842:
2021	4,905
2022	3,814
2023	2,942
2024	2,411
2025	1,880
Thereafter	1,307
Total	17,259
Less interest	(1,461)
Present value	15,798	$ 3,905
Real Estate \| Third Party
Operating Leases, After Adoption of 842:
2021	14,118
2022	13,518
2023	12,462
2024	11,418
2025	10,457
Thereafter	87,307
Total	149,280
Real Estate \| Related Party
Operating Leases, After Adoption of 842:
2021	499
2022	509
2023	387
2024	0
2025	0
Thereafter	0
Total	1,395
Vehicles and Equipment
Operating Leases, After Adoption of 842:
2021	9,925
2022	8,160
2023	5,751
2024	2,190
2025	1,039
Thereafter	0
Total	$ 27,065

Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Leases [Abstract]
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtNoncurrent
Short-term finance lease liabilities	$ 4,383	$ 721
Long-term finance lease liabilities	$ 11,415	$ 3,184

Leases - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Lessee, Lease, Description [Line Items]
Rent expense for operating leases			$ 29,202
Depreciation and amortization	$ 19,774	$ 13,328	10,296
Operating leases, weighted-average lease term (in years)	10 years 3 months 18 days
Finance leases, weighted-average lease term (in years)	4 years 6 months
Operating leases, weighted-average discount rate	6.30%
Finance leases, weighted-average discount rate	3.70%
Lease not yet commenced, contractually obligated payments	$ 30,174
Assets financed by capital leases
Lessee, Lease, Description [Line Items]
Depreciation and amortization			$ 52

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Operating Loss Carryforwards [Line Items]
Effective income tax rate (as a percent)	32.90%	25.30%
CARES Act, Income tax refund receivable	$ 21,250
Deferred tax assets, valuation allowance	2,261	$ 907
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Net loss carryforwards	892
Foreign Tax Authority \| Canada Revenue Agency
Operating Loss Carryforwards [Line Items]
Net loss carryforwards	1,139
State Tax Authority
Operating Loss Carryforwards [Line Items]
Net loss carryforwards	7,082
Valuation against state net operating loss carryforwards	1,369
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Net loss carryforwards	$ 7,192

Income Taxes - Schedule of provision of income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Current income tax (benefit) expense:
Federal	$ (21,877)	$ 4,003	$ 2,945
State	(408)	2,144	1,943
Total current income tax (benefit) expense	(22,285)	6,147	4,888
Deferred income tax (benefit) expense:
Federal	(10,740)	1,617	2,363
Foreign	50	17	(472)
State	(7,728)	429	663
Total deferred income tax (benefit) expense	(18,418)	2,063	2,554
Total income tax (benefit) expense	$ (40,703)	$ 8,210	$ 7,442

Income Taxes - Schedule of income tax reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Income Tax Disclosure [Abstract]
Statutory U.S. Federal tax	$ (25,957)	$ 6,805	$ 5,847
Differences due to:
State and local taxes, net of federal benefit	(6,414)	2,078	1,906
Change in valuation allowance	1,354	95	523
Changes in tax rates	24	(95)	(432)
Federal NOL rate differential	(5,212)	0	0
Stock compensation	(102)	(676)	(197)
Other	(4,396)	3	(205)
Total income tax (benefit) expense	$ (40,703)	$ 8,210	$ 7,442

Income Taxes - Schedule of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Deferred tax assets:
Receivables and inventory	$ 10,944	$ 4,468
Self-insurance reserves	2,210	1,957
Net operating loss carryforwards	15,413	1,393
Debt discount and interest	3,093	0
Stock compensation	1,686	1,894
Charitable contribution carryforward	3,166	368
Operating lease liabilities	34,460	37,740
Other	1,307	414
Total deferred tax assets	72,279	48,234
Deferred tax liabilities:
Property & equipment	(11,289)	(5,218)
Goodwill and intangible assets	(17,709)	(15,192)
Prepaid expenses and other	(2,071)	(2,905)
Operating lease right-of-use assets	(31,414)	(34,895)
Total deferred tax liabilities	(62,483)	(58,210)
Valuation allowance	(2,261)	(907)
Total net deferred tax asset (liability)	$ 7,535
Total net deferred tax asset (liability)		$ (10,883)

Income Taxes - Schedule of operating (loss) income before income taxes for foreign subsidiaries (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Income Tax Disclosure [Abstract]
Foreign subsidiaries operating (loss) income before income taxes	$ (4,231)	$ 18	$ (3,223)

Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes, net of cash received	$ 308	$ 6,046	$ 4,825
Cash paid for interest	18,182	16,271	16,955
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	25,090	25,302	0
Operating cash flows from finance leases	3,856	96	0
ROU assets obtained in exchange for lease liabilities:
Operating leases	7,201	155,027	0
Finance leases	16,063	4,183	0
Non-cash investing and financing activities:
Conversion of subordinated notes and accrued interest into common stock	0	0	37,015
Contingent earn-out liabilities for acquisitions	3,464	7,929	1,414
Convertible notes issued for acquisitions	$ 0	$ 4,000	$ 0

Employee Benefit Plans - Narrative (Details) - USD ($)	12 Months Ended
Employee Benefit Plans - Narrative (Details) - USD ($)	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Postemployment Benefits [Abstract]
Employers contribution to employees under 401k plan	50.00%
Maximum employees contribution under 401k plan	6.00%
Capped employers contribution, per associate	$ 2,500
Matching contribution under 401k plan begin vesting period (in years)	1 year
Matching contribution under 401k plan fully vested period (in years)	5 years
Matching contribution under 401k plan	$ 720,000	$ 1,268,000	$ 1,097,000

Related Parties (Details) - USD ($) $ in Thousands	4 Months Ended	9 Months Ended	12 Months Ended
Related Parties (Details) - USD ($) $ in Thousands	Apr. 20, 2018	Sep. 28, 2018	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Related Party Transaction [Line Items]
Ownership interest in facilities owned by entities controlled by company's stockholders (as a percent)			100.00%
Expenses from transactions with related party			$ 488	$ 433	$ 533
TJ Management Co. LLC
Related Party Transaction [Line Items]
Equity interest in related parties (as a percent)			8.33%
Old World Provisions
Related Party Transaction [Line Items]
Purchase of products	$ 474
TJ Management Co. LLC \| ConAgra Foods, Inc
Related Party Transaction [Line Items]
Purchase of products		$ 662

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019
Other Commitments [Line Items]
Percentage of employees represented by unions	7.00%
Expiring in fiscal 2020
Other Commitments [Line Items]
Percentage of employees represented by unions	2.00%
Medical Program
Other Commitments [Line Items]
Self insurance reserve	$ 1,684	$ 1,220
Automobiles
Other Commitments [Line Items]
Self insurance reserve	3,450	2,818
Workers Compensation
Other Commitments [Line Items]
Self insurance reserve	$ 7,696	$ 7,082

Valuation Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
Valuation Reserves (Details) - USD ($) $ in Thousands	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 8,846	$ 7,460	$ 8,026
Additions Charged to Expense	21,372	4,981	3,790
Deductions	(6,191)	(3,595)	(4,356)
Balance at End of Period	24,027	8,846	7,460
Allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	907	812	289
Additions Charged to Expense	1,354	95	523
Deductions	0	0	0
Balance at End of Period	$ 2,261	$ 907	$ 812

Quarterly Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 25, 2020	Sep. 25, 2020	Jun. 26, 2020	Mar. 27, 2020	Dec. 27, 2019	Sep. 27, 2019	Jun. 28, 2019	Mar. 29, 2019	Dec. 25, 2020	Dec. 27, 2019	Dec. 28, 2018
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 281,674	$ 254,030	$ 200,496	$ 375,431	$ 426,507	$ 396,880	$ 411,420	$ 357,027	$ 1,111,631	$ 1,591,834	$ 1,444,609
Gross profit	58,875	60,362	43,426	85,488	102,426	96,994	101,677	85,471	248,151	386,568	348,916
Operating (loss) profit	(48,268)	(11,925)	(25,409)	(17,058)	18,397	10,624	15,530	6,116	(102,660)	50,667	48,589
(Loss) income before income taxes	(53,612)	(16,631)	(31,181)	(22,182)	14,046	6,107	10,685	1,565	(123,606)	32,403	27,844
Net (loss) income	$ (37,057)	$ (11,427)	$ (20,334)	$ (14,085)	$ 10,888	$ 4,425	$ 7,746	$ 1,134	$ (82,903)	$ 24,193	$ 20,402
Basic net (loss) income per share (in dollars per share)	$ (1.02)	$ (0.31)	$ (0.62)	$ (0.48)	$ 0.37	$ 0.15	$ 0.26	$ 0.04	$ (2.46)	$ 0.82	$ 0.71
Diluted net (loss) income per share (in dollars per share)	$ (1.02)	$ (0.31)	$ (0.62)	$ (0.48)	$ 0.36	$ 0.15	$ 0.26	$ 0.04	$ (2.46)	$ 0.81	$ 0.70
Intangible asset impairment	$ 24,200								$ 24,200	$ 0	$ 0

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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