United Natural Foods Acquires Roots & Fruits, Gives Healthy '06 Outlook
DAYVILLE, Conn. -- Albert's Organics, Inc., a subsidiary of natural foods and supplements distributor United Natural Foods, Inc. (UNFI) has completed the acquisition of Roots & Fruits Cooperative, a Minnesota-based organic wholesale distributor of fresh produce and other perishables.
In operation since 1978, Roots & Fruits has revenues of approximately $20 million and distributes to approximately 500 customers in the upper Midwest region of the U.S. Roots & Fruits will become a member of the Albert's Organics family of companies. Terms of the acquisition were not disclosed.
UNFI chairman and c.e.o. Steven Townsend said his company would "look to bring new products and services to their well established customer base. With the addition of Roots & Fruits, UNFI will strengthen our position in the Midwest, which will provide opportunities for improving operating efficiencies and additional economies of scale. We continue to build solid momentum in the growth of our business and the natural foods market continues to be strong."
UNFI also provided its guidance for its fiscal year ended July 31, 2006, projecting revenue increases from 10 percent to 15 percent from 2005 levels to a range of $2.25 billion to $2.35 billion. Earnings per share increases are expected in the range of $1.14 to $1.19 per share -- an increase of 15 percent to 20 percent -- during the same time period.
In operation since 1978, Roots & Fruits has revenues of approximately $20 million and distributes to approximately 500 customers in the upper Midwest region of the U.S. Roots & Fruits will become a member of the Albert's Organics family of companies. Terms of the acquisition were not disclosed.
UNFI chairman and c.e.o. Steven Townsend said his company would "look to bring new products and services to their well established customer base. With the addition of Roots & Fruits, UNFI will strengthen our position in the Midwest, which will provide opportunities for improving operating efficiencies and additional economies of scale. We continue to build solid momentum in the growth of our business and the natural foods market continues to be strong."
UNFI also provided its guidance for its fiscal year ended July 31, 2006, projecting revenue increases from 10 percent to 15 percent from 2005 levels to a range of $2.25 billion to $2.35 billion. Earnings per share increases are expected in the range of $1.14 to $1.19 per share -- an increase of 15 percent to 20 percent -- during the same time period.