US: Kehe Distributors buys peer Nature's Best
Kehe said deal would boost geographic presence and expand portfolio
Kehe Distributors has snapped up fellow US natural products distributor Nature's Best to help expand its business across North America.
The deal will extend Kehe's reach geographically and "broaden our natural and organic expertise", it said. Financial details were not disclosed.
"This combination positions Kehe to fulfill our vision of being the preferred supply chain partner in the natural, specialty, and fresh products marketplace in North America," Brandon Barnholt, Kehe's president and CEO, said.
NAPERVILLE, Ill., July 18, 2014 /PRNewswire/ -- KeHE Distributors, LLC (KeHE) announced today it has agreed to acquire Nature's Best – a California-based distributor of health and natural food products. The combined resources of KeHE and Nature's Best will expand our national distribution capabilities, broaden our Natural and Organic expertise, and enhance our distribution solution across all food retail channels.
"We are thrilled to welcome Nature's Best into the KeHE family," stated KeHE President and Chief Executive Officer, Brandon Barnholt, "the addition of this great group of people and long standing tradition of service fits perfectly into our operations. This combination positions KeHE to fulfill our vision of being the preferred supply chain partner in the natural, specialty, and fresh products marketplace in North America."
Barnholt continued, "Nature's Best two LEED® Gold Certified warehouses, state-of-the-art warehouse management system, and highly respected Cadia® product line will be significant and immediate enhancements to our value proposition. Additionally, we are highly focused on continuing the tradition of service excellence the Nature's Best group of world class independent and chain customers have come to expect."
Completion of the acquisition is subject to customary closing conditions. BMO Capital Markets is acting as exclusive financial advisor and Winston & Strawn LLP is acting as legal advisor to KeHE in connection with this transaction.
KeHE Distributors, LLC (KeHE) provides Natural & Organic, Specialty & Gourmet, International & Multicultural and Fresh products to natural food stores, chain grocery stores, independent grocery stores and other specialty product retailers throughout North America. KeHE is an employee-owned company with over 3500 employees in the U.S. and Canada.
About Nature's Best
Organic pioneers Gladys and Walter Lindberg opened the doors to a retail nutrition store in Los Angeles in 1949. The store grew into a chain that was considered the first health food "superstore" in Southern California. Acquiring Nature's Best in 1969, the family has grown the company into the largest privately owned wholesaler-distributor of health and natural food products in the country, with Certified Organic Distributor credentials.
Original source: Kehe Distributors
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