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US Foods Begins Exploring Strategic Alternatives for CHEF’STORE; Dave Flitman Comments

US Foods Begins Exploring Strategic Alternatives for CHEF’STORE; Dave Flitman Comments


ROSEMONT, IL
Friday, June 7th, 2024

What’s next for US Foods’ popular CHEF’STORE retail operation? The distributor recently shared an update during its 2024 Investor Day, revealing plans to explore strategic alternatives for the CHEF’STORE cash and carry retail business.

Dave Flitman, Chief Executive Officer, US Foods (Photo credit: Business Wire)“We are excited to highlight our business drivers and introduce our new long-term financial targets,” said Dave Flitman, Chief Executive Officer, in a press release. “With the support and dedication of our 30,000 associates, I am confident in our ability to deliver shareholder value in both the near- and long-term, as we continue to leverage our customer-centric model and differentiation, advance our operational excellence, and remain disciplined on our capital allocation priorities. Further highlighting the confidence we have in our future and our acceleration in operating cash flow, our board has authorized a $1 billion share repurchase program, which we see as highly accretive to shareholder value creation.”

Members of the executive team provided an overview of US Foods’ long-term strategic vision, growth drivers, and a long runway of value creation ahead. A large national scale, targeted customer growth, and a leading position in digital innovation are allowing the company to execute its transformation, customer-first digital solutions, sales, supply chain, and merchandising excellence.

US Foods is beginning to explore strategic alternatives for its CHEF’STORE cash and carry retail business

The press release added that US Foods is introducing its long-range plan expectations for financial results in fiscal 2027, including:

  • Net sales of $43.0 billion to $45.0 billion
  • Adjusted EBITDA of $2.2 billion to $2.3 billion
  • Adjusted Diluted EPS of $5.20 to $5.70

More details from the release can be found here.

As more changes are implemented across the company’s CHEF’STORE footprint, DMN will relay the latest updates.

US Foods
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