US food distributor United Natural Foods has announced the acquisition of substantially all of the assets of Roots & Fruits Cooperative, a privately-owned natural foods distributor of fresh produce and perishables as well as saying that it expected a 10% to 15% increase in revenue in the year ended 31 July 2006.
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United Natural Foods’ subsidiary, Albert’s Organics Inc has acquired the Roots & Fruits Cooperative, a Minnesota-based organic wholesale distributor of fresh produce and other quality perishables. In operation since 1978, Roots & Fruits has annualized revenues of approximately $20m and distributes to approximately 500 customers in the upper Midwest region of the US Roots & Fruits will become a member of the Albert’s Organics Family of Companies. Terms of the acquisition were not disclosed.
“We are extremely pleased that Roots & Fruits has chosen to join United Natural Foods,” said chairman and CEO Steven Townsend. “We will look to bring new products and services to their well established customer base. With the addition of Roots & Fruits, United Natural Foods will strengthen our position in the Midwest which will provide opportunities for improving operating efficiencies and additional economies of scale.”
For the year ending 31 July 2006, revenues are expected to increase approximately 10% to 15% from expected fiscal 2005 levels to a range of $2.25bn to $2.35bn.
“We continue to build solid momentum in the growth of our business and the natural foods market continues to be strong,” said Townsend. “Our long-term strategy and commitment to excel in the distribution of natural and organic foods continues to yield strong results.”
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