United Natural Foods acquires distributor
Jul 13, 2005 10:23 AM, from staff and wire reports
United Natural Foods Inc has provided its financial outlook for the fiscal year ending July 31, 2006, and announced the acquisition of substantially all of the assets of Roots & Fruits Cooperative, a privately owned natural foods distributor of fresh produce and perishables.
For the fiscal year ending July 31, 2006, revenues are expected to increase about 10% to 15% from expected fiscal 2005 levels to a range of $2.25 billion to $2.35 billion. Capital expenditures are expected to be in the range of $30 million to $35 million during fiscal year 2006.
United Natural Foods' wholly owned subsidiary, Albert's Organics Inc, has completed the acquisition of substantially all of the assets of Roots & Fruits Cooperative, a Minnesota-based organic wholesale distributor. In operation since 1978, Roots & Fruits has annual revenues of about $20 million and distributes to some 500 customers in the upper Midwest region of the United States.
Roots & Fruits will become a member of the Albert's Organics Family of Companies. Terms of the acquisition were not disclosed.
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