United Natural Foods Inc. acquires Nor-Cal Produce Inc.
United Natural Foods Inc. acquires Nor-Cal Produce Inc.
United Natural Foods Inc. has acquired Nor-Cal Produce Inc. in a cash transaction for approximately $68.6 million. The acquisition highlights UNFI’s continued drive into fresh and, when combined with the company’s existing produce operations, gives it a national presence in produce.
Founded in 1972, Nor-Cal is a family-owned-and-operated distributor of conventional and organic produce and other fresh products in Northern California, with primary operations located in West Sacramento, CA. Annual net sales for Nor-Cal for the 12 months ended Feb. 29 were approximately $151 million.
“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 chief executive officer, said in a press release. “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.”
“The entire Nor-Cal team is excited to be a part of UNFI. We look forward to working together to grow the combined company and better serve our customers nationwide,” Achondo said in the release.
As part of the deal UNFI also acquired an affiliated entity as well as certain real estate.
