United Natural Foods Inc. (Nasdaq: UNFI) has completed its previously announced acquisition of all of the stock of Tony’s Fine Foods for total consideration of approximately $195.3 million. The final purchase price is subject to a customary post-closing net working capital adjustment.
With the completion of the transaction, Tony’s is now a wholly owned subsidiary of UNFI, and will continue to operate as Tony’s Fine Foods. Founded in 1934 by the Ingoglia family, Tony’s sells products primarily to retail and specialty grocers, food service customers and other distribution companies.
Tony’s Fine Foods is headquartered in West Sacramento, Calif., and is a leading 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.