Strong April Rebound
April showed strong top and bottom line results, with a record sales week for Foodservice, Convenience, and the total company, indicating improvement from earlier challenges.
Successful Sales Force Expansion
The sales force headcount in the Foodservice segment increased by 250 associates or 8% year-over-year, which is expected to drive future growth.
Robust M&A Activity
The company successfully executed two acquisitions, Cheney Brothers and Jose Santiago, which contributed to the 10.5% net sales growth in the quarter.
Convenience Segment Growth
The Convenience segment grew volume by approximately 1%, outperforming the industry, and saw a pipeline of new business wins expected to boost future results.
Adjusted EBITDA Growth
Adjusted EBITDA increased 20.1% to $385.1 million, with strong operating expense control and productivity efforts in play.