The Chefs' Warehouse, a specialty food products distributor focused on chef-driven upscale restaurants major metro markets in the US, raised a greater-than-expected $135 million by offering 9 million shares at $15, the midpoint of its $14 to $16 range. It originally filed to sell 8 million shares. The Ridgefield, CT based company, which got its start as a family-owned local dairy business, today serves some of the biggest names in upscale and specialty food stores, include Mario Batali, Oceana and Fairway. It generated over $343 million in revenue for the 12 months ended March 31, 2011.
The Chefs' Warehouse will open for trading on Thursday on the NASDAQ under the symbol CHEF. Jefferies & Co., BMO Capital Markets, and Wells Fargo Securities acted as lead managers on the deal.
