The Chefs' Warehouse Is Still Appetizing

Summary

• Chefs' Warehouse continues to outperform, with strong revenue and profit growth driven by organic expansion, acquisitions, and operational improvements.
• Management's ambitious targets for 2028, including EBITDA of $300–$350 million, are credible given their track record and ongoing digital transformation.
• Despite a premium valuation versus peers, the company's financial flexibility and lower leverage reduce risk and support continued growth.
• Shares look lofty, but with 12–14% potential annualized upside, I maintain a soft 'buy' rating, pending further price appreciation.