As the pandemic shifted into its second year in 2021, the contract foodservice industry began to make adjustments that allowed it to mitigate COVID’s impact on operations and begin to recover. Obviously, some companies did better than others—in fact, some did spectacularly, at least judging by responses to FM’s request for information for the 2022 Top 50 listing—and we list the 10 with increases of at least 20% here.
Of the 40 companies for which confirmed data is available for both 2020 and 2021, 27 reported revenue gains in 2021 over 2020 while 12 reported losses (one stayed the same). Interestingly, all of the three largest firms were among those posting declines, but it should be noted that they, along with at least two others showing declines (#7 Healthcare Services Group and #17 SSP America), are publicly held entities with non-calendar fiscal years that affect the year-to-year comparisons as their 2020 fiscal years included an extra number of pre-COVID months, whereas companies comparing calendar years basically had only two pre-COVID months in their the 2020 reporting periods.
Of the 10 companies listed here, two—Better4You and Lunchtime Solutions—were also among the nine that posted gains last year.
Here’s a closer look at each of the Top 50 Top Risers of 2022…