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Chefs’ Warehouse Snaps Up Nicola Imports

The Chefs’ Warehouse, Inc. (CHEF), one of the leading distributor of specialty food products in the U.S. and Canada, recently announced the acquisition of Phoenix, Arizona-based seller of specialty food products, Nicola Imports. The terms of the deal were not disclosed.

Christopher Pappas, CEO of Chefs’ Warehouse said, “We are thrilled to welcome Nick Bramini, Jayson James and the Nicola Imports team into our growing family of companies. This acquisition is particularly exciting as it deepens the company’s commitment to serving the growing Arizona market and marks our entry into Denver, which has been a long-term objective of our company.” (See Chefs’ Warehouse stock analysis on TipRanks)

Recently, Lake Street analyst Ben Klieve reiterated a Buy rating on the stock with a price target of $40 (25.35% upside potential). The stock has a Moderate Buy consensus rating based on 2 Buys. The average analyst CHEF price target of $40 implies 25.35% upside potential from current levels. Shares have gained 104.8% over the past year.

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