Martin Preferred Foods Sold Select Assets to The Chefs’ Warehouse (NASDAQ: CHEF)


HOUSTON, TEXAS (October 13, 2021) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce the sale of select assets of Martin Preferred Foods, LP (“Martin Preferred Foods” and/or the “Company”) to The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) (“Chefs’ Warehouse”). Statesman served as the exclusive sell-side financial advisor to Martin Preferred Foods on the transaction.

Since inception in 1985, The Chefs’ Warehouse has been purveying high-quality, luxury, artisan, local and specialty products for many of the best chefs in America. This acquisition will accelerate Chefs’ Warehouse Specialty Protein Expansion in Texas.
“It was a pleasure to work with Jeff Tapick and his team on this deal. They have been great partners throughout this process,” said Christopher Pappas, Chairman and CEO of The Chefs’ Warehouse, Inc. “This acquisition offers The Chefs’ Warehouse the opportunity to continue to build upon our success in the Texas market. We are thrilled to be in a position to bring the Allen Brothers brand to our local customers in Texas.”
For more than 70 years, Martin Preferred Foods has been a leading further processor and distributor of custom, value-added proteins and specialty foods to foodservice and retail customers throughout the US. The Company specializes in developing and providing custom ready-to-cook beef, chicken, and pork products to foodservice and retail operators around the country. Martin Preferred Foods operates two USDA plants at the Company’s headquarters, with over 200,000 square feet of processing, cooler, freezer, and dry warehouse space.
“We are very excited to have partnered with Chris Pappas and The Chefs’ Warehouse team on this deal,” said Jeff Tapick, CEO of Martin Preferred Foods. “The disposition of these assets allows Martin Preferred Foods to shift our focus to manufacturing value-added proteins for foodservice and retail customers across the nation.” 
“Statesman was instrumental in helping us identify our options and negotiate a transaction that benefited all involved parties,” said Jeff Tapick, CEO of Martin Preferred Foods.

About the other transaction participants 

Statesman Corporate Finance, LLC (Houston & Austin, TX) is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation, and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement was led by Will Jaco, Principal, and included Gary Canon, Director, Jessica Seff, Vice President, and Philip Rodriguez, Associate.

Crady Jewett McCulley & Houren LLP (Houston, TX) provided legal counsel to Martin Preferred Foods led by Partner Chris Goodrich and Associate Gregory Goodrich.

Wiggin and Dana (New York, NY) provided legal counsel to The Chefs’ Warehouse led by Partner Dimitri Tournas, and Counsel Giuseppe Scaravilli.

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