PROVIDENCE – United Natural Foods Inc. has acquired Nor-Cal Produce Inc. and an affiliated entity for approximately $68.6 million, UNFI said this week.
The acquisition furthers UNFI’s presence in fresh food, and helps expand its presence in produce nationally, it said in a news release.
Nor-Cal, based in Yreka, Calif., is a family-owned and operated distributor of conventional and organic produce in business since 1972. Annual net sales for Nor-Cal for the year ending Feb. 29 were approximately $151 million.
NFI said it financed the purchase price with a combination of available cash and borrowings under its revolving credit facility.
“We are excited to expand the breadth of our fresh perimeter product assortment and distribution network with the acquisition of Nor-Cal,” Steven Spinner, UNFI’s president and CEO, said in a statement. “This acquisition further illustrates UNFI’s growth into fresh and we look forward to working with Todd Achondo, president of Nor-Cal, who will remain at the company in a leadership role, and their entire team.”
Achondo said his company is excited to be part of UNFI.
“We look forward to working together to grow the combined company and better serve our customers nationwide,” Achondo said.
UNFI carries and distributes more than 85,000 products to more than 40,000 customer locations throughout the United States and Canada, serving conventional supermarket chains, natural product superstores, independent retail operators and the food service channel.
