During the quarter ended March 29, 2024, organic sales grew 8.8%, led by specialty sales, which benefited from 10% customer growth. Additionally, contributions from prior acquisitions added roughly 13% to sales growth. S&P Global Ratings expects Chefs? acquisitive growth will moderate over the near term as the company prioritizes the integration of its past acquisitions and focuses on streamlining efficiencies and cross-selling its specialty food and protein offerings to customers. We forecast the company sustaining S&P Global Ratings-adjusted EBITDA margin in the mid-6% area this year, as it benefits from acquisition-related cost synergies while implementing efficiencies to reduce labor costs. We believe Chefs? strategy to opportunistically consolidate some of its current facilities and routes should also improve profitability metrics, supporting
