United Natural Foods, Inc. (Nasdaq: UNFI) announced it will acquire Select Nutrition Distributors, Inc., a privately owned distributor of health and beauty aids, vitamins, minerals and supplements Terms of the acquisition were not disclosed. Select Nutrition carries and distributes over 14,000 products, representing over 450 manufacturers, to approximately 5,000 customers nationwide from two warehouse facilities in Philadelphia, PA and Visalia, CA. Founded in 1975, Select Nutrition distributes branded vitamins, herbs, dietary supplements, health and beauty aids to health food stores, pharmacies, practitioners, sports clubs and spas.
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 organization. We believe the combined resources of our two organizations will result in enhanced presence and increased market share and serve to rationalize distribution for the Company in the HBA and VMS categories."
United Natural Foods expects the acquisition will be slightly dilutive for the current quarter, neutral to the full year fiscal 2005 earnings per share and accretive thereafter.
United Natural Foods, Inc. is the largest natural products distributor in the U.S., carrying and distributing over 35,000 products to more than 18,000 customers nationwide.
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