The transaction will greatly expand UNFI's customer base and exposure across channels, including those where demand for "better for you" products is increasing.
United Natural Foods, Inc. (UNFI), Providence, R.I., announced plans to acquire SUPERVALU INC., Minneapolis, for approximately $2.9 billion.
"This transaction accelerates UNFI's ‘Build out the Store’ growth strategy by immediately enhancing our product range, equipping us to bring an attractive, comprehensive product portfolio to an expanded universe of customers," says Steve Spinner, UNFI's chairman and CEO. "Combining our leading position in natural and organic foods with SUPERVALU's presence in fast-turning products makes us the partner of choice for a broader range of customers. Together, we can provide our ‘better for you’ products as well as other high-growth segments, improving customers' competitive advantages in a dynamic marketplace. These benefits, plus our increased efficiency and productivity, will enable us to create value for our shareholders, enhance opportunities for our suppliers, provide a broader assortment for our customers and create new prospects for our associates over the long term."