<SEC-DOCUMENT>0000947871-20-000731.txt : 20201130
<SEC-HEADER>0000947871-20-000731.hdr.sgml : 20201130
<ACCEPTANCE-DATETIME>20200911171322
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000947871-20-000731
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200911

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Chefs' Warehouse, Inc.
		CENTRAL INDEX KEY:			0001517175
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-GROCERIES & GENERAL LINE [5141]
		IRS NUMBER:				203031526
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1225

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		100 EAST RIDGE ROAD
		CITY:			RIDGEFIELD
		STATE:			CT
		ZIP:			06877
		BUSINESS PHONE:		(203) 894-1345

	MAIL ADDRESS:	
		STREET 1:		100 EAST RIDGE ROAD
		CITY:			RIDGEFIELD
		STATE:			CT
		ZIP:			06877

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Chefs' Warehouse Holdings, LLC
		DATE OF NAME CHANGE:	20110401
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; text-align: center; background-color: white">The Chefs&rsquo; Warehouse,
Inc.</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; text-align: center; background-color: white">100 East Ridge Road</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; text-align: center; background-color: white">Ridgefield, Connecticut 06877</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; text-align: center; background-color: white">(203) 894-1345</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; text-align: right; background-color: white">September 11, 2020</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white"><U>By EDGAR</U></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">Mr. Edwin Kim and Mr. Rufus Decker</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">Division of Corporation Finance</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">Office of Consumer Products</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">100 F Street, NE</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">Washington, D.C. 20549-0405</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white"></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">The Chefs&rsquo; Warehouse, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">Form 10-K For Fiscal Year Ended December 27, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">Filed February 24, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">File No. 1-35249</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">Dear Mr. Kim and Mr. Decker:</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">On behalf of The Chefs&rsquo;
Warehouse Inc. (the &ldquo;Company&rdquo;) and in response to the comments of the staff (the &ldquo;Staff&rdquo;) of the Securities
and Exchange Commission (the &ldquo;Commission&rdquo;) to the Company&rsquo;s Form 10-K for the Fiscal Year Ended December 27,
2019 filed with the Commission on February 24, 2020 (the &ldquo;Form 10-K&rdquo;) contained in your letter dated September 1, 2020
(the &ldquo;Comment Letter&rdquo;), I am submitting this letter containing responses to the Comment Letter.</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">The responses set forth in
this letter are numbered to correspond to the numbered comments in the Staff&rsquo;s letter. For your convenience, we have set
out the text of the comments from the Comment Letter in bold, followed by the related response.</P>

<P STYLE="font: 10pt/107% Georgia, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/107% Georgia, Times, Serif; margin: 0 0 8pt"><B><U>Form 10-K for the Fiscal Year Ended December 27, 2019</U></B></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0"><B><U>Item 8. Consolidated Financial Statements and Supplementary Data</U></B></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0"><B><U>Consolidated Statements of Operations and Comprehensive Income, page
48</U></B></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt"><B>1.</B></FONT></TD><TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt"><B>Please present selling, general and administrative expenses
separately from other operating expenses. Also, tell us and disclose with quantification the material components of other operating
expenses for each period presented. Refer to Rules 5-03.3 and .4 of Regulation S-X.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">The Company acknowledges that although its &ldquo;Operating expenses&rdquo;
line item is predominately comprised of selling, general and administrative (&ldquo;SG&amp;A&rdquo;) expenses as described in Rule
5-03.4, there are certain expenses that more closely aligned with &ldquo;Other operating costs and expenses&rdquo; per Rule 5-03.3.
Such costs include gain/loss on asset disposal, third party deal costs and expenses related to the changes in the fair value of
the Company&rsquo;s contingent earn-out liabilities. However, the Company has not historically disclosed these &ldquo;Other operating
expenses&rdquo; based on their materiality, as such costs represented less than 2% of the total &ldquo;Operating expenses&rdquo;
line item. In response to the Staff&rsquo;s comment, in future filings the Company will revise its presentation of operating expenses
reported on its Consolidated Statements of Operations and Comprehensive Income to disclose these costs separately as follows:</P>

<P STYLE="font: 10pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&#65279;</P>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt"><B>Fiscal Years Ended</B></FONT></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 42%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt"><B>December 27, 2019</B></FONT></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt"><B>December 28, 2018</B></FONT></TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt"><B>December 29, 2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1,591,834 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1,444,609 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1,301,520 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Cost of sales</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,185,481 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,077,562 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972,142 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Gross profit</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406,353 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367,047 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329,378 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Selling, general and administrative expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349,327 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316,233 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288,544 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Other operating expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,359 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,225 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(283)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Operating income</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50,667 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48,589 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41,117 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Interest expense</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18,264 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,745 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,709 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Income before taxes</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32,403 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27,844 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18,408 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Provision for taxes</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,210 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,442 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,042 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Net income</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,193 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19,402 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14,366 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Other comprehensive income (loss):</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Foreign currency translation adjustments</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(672)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 637 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">Comprehensive income</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24,366 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18,730 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15,003 </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">The Company will modify its accounting policy footnotes to describe
the types of operating expenses. The following is an example of the future disclosure related to operating expense categories:</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><B><I>Selling, General and Administrative Expenses</I></B><I>&nbsp;</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>Selling, general and administrative expenses include the costs
of facilities, product shipping and handling costs, warehouse costs, food processing costs, and other selling and general administrative
activities.</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><B><I>Other Operating Expenses</I></B></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>Other operating expenses includes operating expenses primarily
related to changes in the fair value of the Company&rsquo;s earn-out liabilities, gains and losses on asset disposals, asset impairments
and certain third-party deal costs incurred in connection with business acquisitions or financing arrangements.</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">The table below presents a breakdown of &ldquo;Other operating
expenses&rdquo; for each of the periods presented in the Company&rsquo;s Form 10-K. The amounts in the table (in thousands of dollars),
exclusive of the &ldquo;Third-party deal costs&rdquo;, are disclosed in various sections of the Company&rsquo;s Consolidated Financial
Statements and Managements&rsquo; Discussion and Analysis of Financial Conditions and Results of Operations.</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 38%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt"><B>Fiscal 2019</B></FONT></TD>
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt"><B>Fiscal 2018</B></FONT></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt"><B>Fiscal 2017</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center">Change in fair value of contingent</P>
        <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center">earn-out liabilities</P>
        <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">5,879</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">1,448</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">(579)</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">Third-party deal costs</FONT>
    <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">379</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">608</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">286</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center">Loss on asset disposal</P>
        <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">101</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">169</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center">Total other operating expenses</P>
        <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">6,359</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">2,225</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt">(283)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><B>&nbsp;</B></P>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0"><B><U>Note 2 &ndash; Summary of Significant Accounting Policies</U></B></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0"><B><U>Cost of Sales</U></B></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0"><B><U>Operating Expenses, page 54</U></B></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD><TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt"><B>Please tells us what food processing costs (both protein
and non-protein related) are incurred after receipt of product from your suppliers and explain in detail your basis in GAAP for
excluding these food processing costs from cost of sales and gross profit. Also, tell us the total amounts of food processing costs
for each period presented in your Form 10-K to the extent they differ from the protein only processing costs already disclosed.
Additionally, tell us the total amounts of food processing costs related to the thirteen and twenty-six week periods ended June
26, 2020. If labor and benefits, materials and supplies, depreciation of tools, equipment and assets used in processing, occupancy
costs related to processing facilities and quality control costs are not included in the food processing costs amounts provided,
please further explain why not and quantify each of the amounts excluded for each period presented. Refer to ASC 330-10-30.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="background-color: white"><U>Food Processing Costs
&ndash; Background and Basis in GAAP</U></FONT></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="background-color: white">The Company&rsquo;s protein
processing costs represent the costs to cut and package protein products, primarily beef products, for sale to the Company&rsquo;s
customer base and are disclosed within our Form 10-K.&nbsp;&nbsp;Historically, the Company has not incurred food processing costs
for its non-protein products. However, as a result of the Company&rsquo;s acquisition of Sid Wainer &amp; Son on January 27, 2020,
the Company has incurred non-protein processing costs, which represent the costs to cut and package produce products for sale to
certain customers, starting in fiscal 2020. The Company believes these costs to date are immaterial to the users of the financial
statements. </FONT></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="background-color: white">In response to the Staff&rsquo;s
comment, the Company considered the guidance in ASC 330-10-30 which states &ldquo;as applied to inventories, cost means in principle
the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition
and location. It is understood to mean acquisition and production cost, and its determination involves many considerations.&rdquo;
GAAP requires management to exercise judgement based on a reporting entity&rsquo;s facts and circumstances in determining what
is allocated to cost of sales versus operating expenses as there is no specific guidance that points to classification.</FONT></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-size: 10pt; background-color: white">The majority
of the Company&rsquo;s&nbsp;products are sold &ldquo;box-in, box-out&rdquo;, which require no additional processing. However, approximately
13% of consolidated sales are further processed whereby cases of boxed meat, which are saleable finished goods, are processed into
individual cuts and repackaged for shipment based on customer specific orders.&nbsp;This processing is done for our core customer
base of independent restaurants and fine dining establishments, as well as for our direct-to-consumer customers. The costs associated
with processing for our core customers are normally incurred immediately prior to shipment and represent a de minimis portion of
the value of pre-cut inventory held on hand at any point in time. For our direct-to-consumer business we pre-cut product, inventory
that cut product and utilize specialized packaging. </FONT><FONT STYLE="background-color: white">Processing<FONT STYLE="font-size: 10pt">&nbsp;costs
related to our direct-to-consumer, pre-cut products held at period end are capitalized into inventory. </FONT></FONT></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="background-color: white">The Company recognizes the
expense for all processing costs, whether incurred immediately prior to shipment for our core customers or pre-cut for the Company&rsquo;s
direct-to-consumer business within SG&amp;A expenses. The Company believes recognition of these costs as a component of SG&amp;A
expense is appropriate because the vast majority of its processing activities reflect handling costs for our core customers under
ASC 606-10-25-18A, as they are incurred from the point the product is removed from finished goods inventory to the point the product
is shipped. In its summary of significant accounting policies footnote, the Company discloses that its shipping and handling costs
are costs to fulfill the Company&rsquo;s performance obligations and presents all such costs in SG&amp;A expense. The Company believes
this approach is appropriate as, essentially, one </FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="background-color: white">saleable finished good is immediately converted into smaller portioned finished
goods as part of the packaging process. Direct-to-consumer sales represent less than 2% of the Company&rsquo;s consolidated net
sales in each of the last three fiscal years and the Company estimates the value of direct-to-consumer protein processing costs
included in SG&amp;A expenses to be less than $1.0 million per year in each of those years. The Company believes the processing
costs related to our direct-to-consumer inventory are immaterial for inclusion in cost of sales.</FONT></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="background-color: white"><U>Components of Total Food
Processing Costs</U></FONT></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="background-color: white">The Company&rsquo;s protein
processing costs include labor and benefits, materials and supplies, occupancy costs and quality control costs related to its processing
facilities. Depreciation of equipment and other assets used in protein processing activities is not included in protein processing
costs. Depreciation has been excluded as the Company&rsquo;s position has been that these costs are immaterial and its systems
do not currently track depreciation expense at this level of granularity. In response to the Staff&rsquo;s comment, the Company
performed an analysis to estimate the amount of depreciation expense that is related to equipment and other assets used in its
protein processing activities. Based on the analysis performed, depreciation expense related to the Company&rsquo;s protein processing
activities was estimated to be approximately $1.0 million, $0.9 million and $0.5 million for fiscal 2019, 2018 and 2017, respectively,
and approximately $0.3 and $0.6 million for the thirteen and twenty-six weeks ended June 26, 2020. The Company believes these amounts
are immaterial and the costs of providing this level of granularity outweigh its benefits.</FONT></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="background-color: white">The following table presents
the components of total food processing costs (in thousands of dollars):</FONT></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 9pt Georgia, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"><B>Fiscal </B></P> <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"><B><U>2019</U></B></P></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"><B>Fiscal </B></P> <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"><B><U>2018</U></B></P></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"><B>Fiscal </B></P> <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"><B><U>2017</U></B></P></TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"><B>Q2 </B></P> <P STYLE="font: 9pt Georgia, Times, Serif; margin: 0; text-align: center"><B><U>2020</U></B></P></TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 9pt"><B>YTD Q2 <BR>
<U>2020</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left; padding-left: 5.4pt">Protein processing costs <BR>(as reported)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">17,530</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">15,907</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">13,058</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">3,417</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">7,929</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Depreciation excluded from protein processing costs </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">968</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">846</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">534</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">325</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">610</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD nowrap STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Non-protein processing costs including depreciation <BR></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">229</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total food processing costs</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">18,498</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">16,753</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">13,592</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,799</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,768</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">The Company acknowledges there is diversity in practice within
our industry in regards to both the presentation and the components of processing/production costs. Generally, most entities disclose
that costs of sales consists of amounts paid to vendors to acquire product and inbound freight. Some entities also include depreciation
expense of equipment and facilities used in food processing activities. Most of our industry peers appear to exclude direct labor
and other overhead related to food processing activities from cost of sales.</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">In response to the Staff&rsquo;s comments, the Company will update
its determination of food processing costs such that it includes protein and non-protein processing costs inclusive of depreciation
expense related to equipment and other assets used in the Company&rsquo;s food processing activities. The Company will revise its
disclosure in future annual filings as follows:</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>Food processing costs included in selling, general and administrative
expenses were&nbsp;$18,498,&nbsp;$16,753&nbsp;and&nbsp;$13,592&nbsp;for fiscal&nbsp;2019,&nbsp;2018&nbsp;and&nbsp;2017, respectively.
These costs </I></P>

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<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>include but are not limited to direct labor and benefits, applicable overhead and depreciation of equipment and facilities
used in food processing activities.</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I></I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in; text-align: center"><I>***</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>If you have any questions or require additional information
with respect to the above, please do not hesitate to contact me at (203) 894-1345 (Ext. 10211) or aaldous@chefswarehouse.com or
Richard Alsop at (212) 848-7333 or richard.alsop@shearman.com.</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 3.5in"><I>Very truly yours,</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 3.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 3.5in"><I><U>/s/ Alexandros Aldous &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 3.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 3.5in"><I>General Counsel, Corporate Secretary &amp; Chief Government
Relations Officer</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 3.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Georgia, Times, Serif; margin: 0 0 0 3.5in; text-indent: -3in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Georgia, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><I>cc:</I></TD><TD><I>Tim McCauley, Chief Accounting Officer<BR>
Richard B. Alsop, Shearman &amp; Sterling
LLP</I></TD></TR></TABLE>


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