United Natural Foods Inc. (UNFI) has entered into a definitive agreement to acquire all of the stock of Tony’s Fine Foods for $195.3 million.
United Natural Foods Inc. (UNFI) has entered into a definitive agreement to acquire all of the stock of Tony’s Fine Foods for $195.3 million. Tony’s Fine Foods is a distributor of perishable food products including a wide array of specialty protein, cheese, deli, foodservice, and bakery goods throughout the Western United States, as well as Alaska and Hawaii. Founded in 1934 by the Ingoglia family, Tony’s products are sold primarily to retail and specialty grocers, foodservice customers, and other distribution companies.
The transaction is expected to close late in the fourth quarter of fiscal 2014. Upon closing, Tony’s will be operated as a wholly-owned subsidiary of the United Natural, and the transaction is expected to be accretive to the company’s earnings in its fiscal year 2015.
“Natural protein and specialty perishable products are a very important part of UNFI’s future. Tony’s Fine Foods will serve as our platform for building out our national perimeter product offering. These fast growing products will help us further expand market share as we build out our retail store SKU offering,” said Steven Spinner, UNFI’s President and CEO. “We welcome Scott and Karl Berger and look forward to working with the entire Tony’s Fine Foods team of professionals as we build upon their more than 80 years of marketing, logistics, and distribution excellence to continually deliver exceptional customer service and drive future growth.”