ADDED
Our net revenues have increased from approximately $1.7 billion for the fiscal year ended December 24, 2021 to $4.1 billion for the fiscal year ended December 26, 2025.
Our historical sales growth is the result of an increase in the breadth and depth of our product portfolio, our commitment to customer service, the efforts of our experienced and sophisticated sales professionals, the increased use of technology in the operations and management of our business and our ongoing consolidation of the fragmented specialty foodservice distribution industry.
Our completed acquisitions have increased our penetration in existing markets, expanded our footprint into new markets and/or enhanced our product capabilities.
We funded these acquisitions with cash generated from our operations and borrowings under our credit facilities.
We have no meaningful customer concentration as our top ten customers accounted for approximately 6% of total net sales for our 2025 fiscal year.
Over recent years, we have made significant investments in warehousing technology, business intelligence and customer relationship management software and are in the process of implementing a supply chain planning system.
Our systems improvements include the implementation of advanced picking solutions, mobile selling tools and analytical finance tools.
We are utilizing advancements in search and artificial intelligence to enable us to better predict our customers needs so that we can deliver the same level of service online as we do offline.
We are also leveraging reporting and analytics platforms that provides our sales and operations management with the information required to drive efficiency and growth.
We believe that our current systems are scalable and can be leveraged together with targeted investments in new technology like artificial intelligence, robotics, drones and low-code development to provide the fuel to drive profitable growth.
REMOVED
Our net revenues have increased from approximately $1.1 billion for the fiscal year ended December 25, 2020 to $3.8 billion for the fiscal year ended December 27, 2024.
Our historical sales growth and our ability to manage through the material adverse impacts of the Covid-19 Pandemic on our business are the result of an increase in the breadth and depth of our product portfolio, our commitment to customer service, the efforts of our experienced and sophisticated sales professionals, the increased use of technology in the operations and management of our business and our ongoing consolidation of the fragmented specialty foodservice distribution industry.
Since December 25, 2020, we have completed sixteen acquisitions which have increased our penetration in existing markets, expanded our footprint into new markets and/or enhanced our product capabilities.
The up-front cash purchase prices for these sixteen acquisitions was more than $326.2 million, which we funded with cash generated from our operations and borrowings under our then existing credit facilities.
We have no meaningful customer concentration as our top ten customers accounted for less than 6% of total net sales for our 2024 fiscal year.
Over recent years, we have made significant investments in distribution, sales, information and warehouse management systems and are in the process of implementing and improving a fully-integrated Enterprise Resource Planning system.
Our systems improvements include the implementation of route optimization software, a warehouse management system at all specialty warehouses that integrates with pick-to-voice and directed put-away systems.
We believe we will be able to utilize advancements in search and artificial intelligence to enable us to better predict our customers needs so that we can deliver the same level of service online as we do offline.
We also leverage a reporting and analytics platform that provides our sales team and management with the information required to drive efficiency and growth.
We believe that our current systems are scalable and can be leveraged together with targeted investments in new technology to provide the fuel to drive profitable growth.