The Chefs’ Warehouse Restructures Board, Strikes Investor Pact

An announcement from The Chefs’ Warehouse Inc. (CHEF) is now available.

The Chefs’ Warehouse, Inc. has entered into a Cooperation Agreement with an Investor Group holding a 3.3% stake in the company. This pact will restructure the Board of Directors by temporarily increasing its size, appointing two new members, and forming a task force to enhance operational and financial performance. The Investor Group has also agreed to certain standstill and voting provisions, supporting the Board’s recommendations at annual and special meetings. Additionally, the company is set to reimburse the Investor Group’s expenses up to $375,000 related to the agreement.

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