The Chefs’ Warehouse, a premier distributor of specialty food products in North America, has acquired Chef Middle East, a specialty food distributor with operations in the UAE, Qatar and Oman, from Gulf Capital, a leading alternative asset management firm in the Gulf and Southeast Asia.
“This is exciting news for The Chefs’ Warehouse, our partners, employees and our new colleagues at Chef Middle East. Similar to our positioning in the US and Canada, Chef Middle East is the premier provider of specialty food products to the higher-end restaurants, hotels and catering establishments in the region. Their product portfolio mirrors ours in many ways and includes high-quality imported specialty foods, meat and seafood, pastry and bakery goods, along with broad product lines. We thank Gulf Capital for entrusting us to continue the growth of Chef Middle East into a leading foodservice player,” said Christopher Pappas, chairman and CEO of The Chefs’ Warehouse.
The region’s high-end income demographic, coupled with Dubai’s role as a regional tourism and commercial hub, lends itself to the type of customer and service model that The Chefs’ Warehouse has thrived on for more than 35 years. In addition, many of its customers have opened locations in the region and new openings continue to contribute to the growth in the industry. “We are grateful for the support from both PwC and deNovo in getting this transaction over the finish line,” said The Chefs’ Warehouse vice president of mergers and acquisitions, Nick Ktorides.
Chef Middle East is led by a strong, seasoned management team with years of experience in the global food distribution space. Pyle added: “We couldn’t hope for a better home for our valued employees, customers and supply partners that have supported us over so many years. The Chefs’ Warehouse focus on quality and service will preserve the essence of what makes Chef Middle East an exceptional company, while leveraging technology, infrastructure, and relationships to add more value to our customers and ensure our continued growth.”
The acquisition of Chef Middle East is expected to generate between USD 160-180 million in annual net sales and USD 11-14 million in EBITDA.