Shares of Ridgefield-based Chefs’ Warehouse are climbing after the supplier for restaurants, caterers and other food companies raised $135 million in an initial public offering, The Associated Press reports.
The company stocks gourmet foods such as truffles, caviar and fancy cheeses, as well as the usual staples needed by restaurants such as cooking oil, eggs, milk and flour.
Chefs’ and its shareholders had sold 9 million shares for $15 each, the middle of the expected price range. The company’s proceeds from the IPO were about $63.1 million after expenses, all of which is going to repay debt.
Trading on the Nasdaq under the symbol “CHEF,” the shares are up $2.27, or 15.1 percent, to $17.27 in late morning trading.
