6.11.2007: Meldung: United Natural Foods, Inc.: Merger With Millbrook Distribution Services Completed
Monday November 5, 8:30 am ET
DAYVILLE, Conn., Nov. 5 / United Natural Foods, Inc. announced today the completion of its previously announced merger with Millbrook Distribution Services, Inc. ("Millbrook"), a privately held subsidiary of Distribution Holdings, Inc. Millbrook, headquartered in Leicester, MA, has annualized revenues in excess of $300 million. The financial terms of the transaction were not disclosed.
Established in 1960, Millbrook distributes more than 22,000 specialty food items, and over 20,000 health and beauty care items and other non-food items to more then 9,000 retail locations. Millbrook carries specialty food items including ethnic, kosher, gourmet, organic and natural foods and also offers customers an extensive selection of health and beauty care items, including a full-line of national and branded products. Customers include independent store retailers, as well as regional and national supermarket, mass merchandisers and chain drug stores, in 48 states.
The transaction accomplishes several strategic objectives for United Natural Foods, including accelerating the Company"s expansion into a number of high-growth business segments and establishing an immediate market share in the fast-growing Specialty Foods market. Millbrook"s robust customer base significantly enhances United Natural Foods" conventional supermarket business channel; both organizations" complementary product portfolios represent significant opportunities for cross-selling.
"We"re very pleased to welcome Millbrook, their customers and associates to our organization," Michael Funk, President and Chief Executive Officer of United Natural Foods. "This opportunity is consistent with our plan to expand our presence in the Specialty Foods segment and enhance the breadth of our products, resources and distribution network." Millbrook"s distribution network features four distribution centers, representing over 1.6 million square feet of warehouse space.
Credit Suisse Securities (USA) LLC acted as financial advisor to United Natural Foods.
Investor Conference Call
Due to the proximity to the close of its fiscal 2008 first quarter, ended October 27, 2007, the Company will host a conference call and audio webcast at 11:00 am on Tuesday, November 20, 2007 to provide additional information regarding the Millbrook acquisition as well as review the Company"s quarterly results, market trends and future outlook. The Company intends to release its financial results for the first quarter of fiscal 2008 before the market opens on Tuesday, November 20, 2007.
The conference call dial-in number is 303-262-2004. An audio webcast of the conference call will be available to the public, on a listen-only basis, via the internet at www.earnings.com or at the Investor Relations section of the Company"s website at www.unfi.com. Please allow extra time, prior to the call, to visit the site and download the necessary software to listen to the Internet broadcast. The online archive of the webcast will be available for 30 days.
About United Natural Foods
United Natural Foods, Inc. carries and distributes more than 40,000 products to more than 17,000 customers nationwide. The Company serves a wide variety of retail formats including conventional supermarket chains, natural product superstores, independent retail operators and the food service channel. United Natural Foods, Inc. was ranked by Forbes in 2005 as one of the "Best Managed Companies in America," ranked by Fortune in 2006 and 2007 as one of its "Most Admired Companies," and ranked by Business Ethics as one of its "100 Best Corporate Citizens for 2006."
Source: United Natural Foods, Inc.