United Natural Foods Inc. (Nasdaq: UNFI) announced that it has entered into a definitive agreement to acquire all of the equity interests of Trudeau Foods LLC from Trudeau Holdings LLC, a portfolio company of Arbor Investments II LP. Trudeau Foods is the largest Minnesota-based distributor of natural, organic and specialty food products. The transaction is subject to customary closing conditions and is expected to close by Sept. 30, 2013. Upon closing, Trudeau Foods will be operated as a wholly owned subsidiary of UNFI.
"This acquisition is the latest step in our strategy to grow our market share and deliver a complete basket of specialty, natural and organic products to our customers," commented Steve Spinner, UNFI's president and chief executive officer. "We are excited to welcome Trudeau Foods to our organization. Both companies have a tremendous history of commitment to servicing their customers, and we are enthusiastic about the growth prospects for this market."
Trudeau Foods serves more than 600 customer locations, including chain and independent grocers, wholesalers and meat markets in Minnesota, North Dakota, Wisconsin and Michigan's Upper Peninsula. Trudeau Foods carries a full range of fine-quality and specialty gourmet meats, frozen foods, dairy, bakery, deli, seafood and dry grocery items under a wide breadth of national, regional and private label brands.