United Natural Foods Announces its Intent for More Acquisitions
- by Jessica Donnel
PROVIDENCE, RI - United Natural Foods Inc. (UNFI) Chief Financial Officer Mark Shamber has announced the company’s intent to seek acquisitions and build out its fresh food distribution business.
According to TheStreet.com, Shamber spoke on the matter at a recent consumer conference in New York, saying that consumers are not only demanding products with fewer artificial ingredients, they are also shopping for fresher foods.
UNFI is seeking to expand upon its currently owned fresh foods distributors Tony’s Fine Foods and Albert’s Organics. The company bought distributor Tony’s Fine Foods last year for about $195 million, giving UNFI access to both meat and cheese distribution in the western United States. Albert’s Organics, the company's first fresh food business, delivers organic produce and has distribution centers in North Carolina, Florida, New Jersey, New Hampshire, Minnesota, Colorado, and California.
Current distributor's for UNFI include:
Shamber noted that while it would be difficult for the company to build those businesses in other areas organically or from scratch, it would be easier for UNFI to acquire companies with trucks and distribution centers already in place. Shamber declined to comment on which companies could be targets for UNFI right now, but did mention that companies with the attributes of Four Seasons, which, according to TheStreet.com, generates over several hundred million dollars in revenue based on the size of its fleet, would be attractive candidates.
Stay tuned to AndNowUKnow has we continue to follow UNFI’s future acquisitions for this developing story.