PROVIDENCE, RI - Sometimes, in order to grow, one must team up to expand resources. United Natural Foods, Inc. (UNFI) has entered into a definitive agreement with FMS Solutions to divest its Retail Accounting Services Division. This transaction is expected to be completed by June 6, 2020.
According to abasto, the wholesaler’s diversified customer portfolio will be used to create a new roadway to help more independent retailers succeed.
“We saw an opportunity to merge two organizations with the same client-centric approach and genuine passion for the grocery industry,” stated Gary Bickmore, Vice President of Strategic Alliances at FMS. “UNFI and FMS have a long history of providing excellent accounting and payroll services across North America. We look forward to overcoming any challenges of assimilating both teams. Moreover, we expect to continue to provide best in class services to all our clients.”
Under the terms of the agreement, UNFI’s retail accounting teams located in Anniston, AL; Champaign, IL; Hopkins, MN; Pittsburgh, PA; and St Louis, MO, will become FMS subsidiaries. UNFI’s retail accounting employees are being offered continued employment with FMS and will transition to FMS when the transaction closes in June.
As of now, there is no definitive amount mentioned for the transaction.
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