United Natural Foods buys Select Nutrition Distributors

22 Dec 2004

Source: just-food.com

US natural and organic food distributor United Natural Foods has announced the acquisition of Select Nutrition Distributors, a privately owned distributor of health and beauty aids, vitamins, minerals and supplements.

Terms of the acquisition were not disclosed.

"We are very excited about the opportunities this acquisition presents," said Steven Townsend, United Natural Foods' chairman and chief executive officer. "Select Nutrition has been a long-standing partner and its franchise is a terrific complement to the United Natural Foods organisation. We believe the combined resources of our two organisations will result in enhanced presence and increased market share and serve to rationalise distribution for the company in the HBA (health and beauty aids) and VMS (vitamins, minerals and supplements) categories."

The company said it expects the acquisition to be slightly dilutive for the current quarter’s earnings, neutral to full year fiscal 2005 earnings per share and accretive thereafter.

just-food.com