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UNFI Announces Management Changes
United Natural Foods, Inc. today announced changes to its senior management team. Mike Zechmeister will resign his position as Chief Financial Officer, effective August 23, 2019, to pursue an opportunity outside the Company. John W. Howard has been appointed Interim Chief Financial Officer while the Company begins an internal and external search for Mr. Zechmeister's permanent replacement. Mr. Howard joined UNFI in July as Senior Vice President, Finance and Accounting.
Steven L. Spinner, UNFI's Chairman and Chief Executive Officer said, "I thank Mike for his contributions to UNFI over the past four years of significant growth and change. In the near term, we're fortunate to have John's experience and financial acumen available to...
United Natural Foods Inc Reports Third Quarter Fiscal 2019 Results
United Natural Foods, Inc. (NYSE: UNFI) (the "Company" or "UNFI") today reported financial results for the third quarter of fiscal 2019 ended April 27, 2019.
Third Quarter Fiscal 2019 Highlights
"Our transformational journey continues, and I'm proud of what our team has accomplished this quarter," said Steven L. Spinner, Chairman and Chief Executive Officer. "I am excited about our next chapter and the acceleration of value creation we expect to...
UNFI Elects James Muehlbauer to Its Board of Directors
United Natural Foods, Inc. (NYSE: UNFI) ("UNFI") today announced it has appointed James Muehlbauer, an experienced financial and strategic executive, to its Board of Directors effective April 22, 2019. This appointment furthers UNFI's commitment to expand the size of its Board and bring on additional expertise in areas that serve UNFI's new strategic objectives following the recent SUPERVALU acquisition. With the addition of Mr. Muehlbauer, UNFI's Board now has nine members.
Mr. Muehlbauer joins the Board having most recently served from 2013 to 2017 as the Executive Vice President, Chief Financial and Administrative Officer for The Valspar Corporation, a manufacturer and distributor of paints, coatings and...
United Natural Foods, Inc. Reports Second Quarter Fiscal 2019 Results
United Natural Foods, Inc. (NYSE: UNFI) (the "Company" or "UNFI") today reported financial results for the second quarter of fiscal 2019 ended January 26, 2019.
Second Quarter Fiscal 2019 Highlights
"I'm pleased by the tremendous work and meaningful progress our team accomplished this quarter on the integration of ...
UNFI Announces Plans to Optimize Pacific Northwest Distribution Center Network
UNFI (NYSE: UNFI) today announced plans to optimize its distribution center network in the Pacific Northwest. This plan includes building a new facility and expanding another to enhance customer product offerings, create more efficient inventory management, streamline operations and incorporate best in class technology to deliver a better customer experience. The optimization of the Pacific Northwest distribution network will also help deliver meaningful synergies contemplated in the acquisition of SUPERVALU in October 2018.
The company has entered into a long-term lease agreement with a developer in Centralia to construct a 1.2 million square-foot distribution center exclusively for UNFI on approximately 77 acres at 4002 Galvin Road in Centralia, Washington. The Centralia distribution center is located in close proximity to two existing UNFI DCs in Tacoma and Portland ...
United Natural Foods, Inc. Reports First Quarter Fiscal 2019 Results
Net Sales Increased 16.7% to $2.87 BillionProvides Fiscal 2019 Guidance Inclusive of SUPERVALU
United Natural Foods, Inc. (Nasdaq: UNFI) (the "Company" or "UNFI") today reported financial results for the first quarter of fiscal 2019 ended October 27, 2018.
"We closed on the previously announced purchase of SUPERVALU which will accelerate UNFI's transformation of food distribution throughout North America," said Steven L. Spinner, Chairman and Chief Executive Officer. "The integration of the two companies is well underway and we continue to be excited about the long-term creation of value for our shareholders we expect to deliver with this combination."
First Quarter Fiscal 2019 Summary
Gross margin for the first quarter of fiscal 2019 was 14.38% of net sales and included a $1.8 million, or 0.06% of net sales, inventory fair value adjustment charge related to the acquisition of SUPERVALU. When adjusted for this charge ...
Coborn’s, Inc. Signs Purchase Agreement with SUPERVALU to Acquire Hornbacher’s Stores
Coborn’s, Inc. has announced it has signed a purchase agreement with SUPERVALU, a newly acquired subsidiary of United Natural Foods Inc. (UNFI), to acquire the company’s Hornbacher’s stores in the Fargo, ND-Moorhead, MN area, which includes a store that is currently under construction in West Fargo, ND. Five of the stores in operation are located in Fargo, ND and two of the stores are located in Moorhead, MN.
The Hornbacher’s locations included in the sale are:
Giant Food Stores Agrees to Acquire Five Shop 'N Save Stores
GIANT Food Stores announced today that it has entered into an agreement with SUPERVALU INC., a newly acquired subsidiary of United Natural Foods (UNFI), to acquire five corporately‐owned Shop ‘n Save locations. Upon completion of the sale, GIANT plans to convert the Shop ‘n Save stores into MARTIN'S Food Markets stores. The following stores are part of the sale...
UNFI Completes Transformative Acquisition of SUPERVALU
United Natural Foods, Inc. (NASDAQ: UNFI) ("UNFI" or the "Company") announced today it has completed the previously announced acquisition of SUPERVALU INC. for $32.50 per share in cash, or approximately $2.9 billion, including the assumption of outstanding debt and liabilities. The completion follows the satisfaction of all closing conditions including approval of the transaction by SUPERVALU shareholders and receipt of all necessary antitrust approvals. In connection with the completion of the transaction, SUPERVALU's common stock will cease trading prior to market open on October 22, 2018 and will be delisted from the New York Stock Exchange.
"Today is an important milestone for UNFI. We will take the best from both businesses to create North America's premier food wholesaler with significant scale, reach and choices for our customers. We are pleased to welcome our new colleagues from SUPERVALU as well as their customers and suppliers to UNFI. Our companies share customer-centric cultures and dedicated associates who are committed to continuous improvement, which will help...
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