- United Natural Foods (NYSE:UNFI +1.3%) announced it acquired Gourmet Guru in an all-cash transaction. Specific terms of the deal weren't disclosed.
- Gourmet Guru is a distributor and merchandiser of fresh and organic food focusing on new and emerging brands.
- The company says the acquisition enhances UNFI’s strength in finding and cultivating emerging fresh and organic brands and further expands UNFI’s presence in key urban markets.
- Gourmet Guru reported revenue of $50M for the twelve months ended June 30.
- The transaction is expected to be neutral to UNFI’s FY17 earnings and modestly accretive to UNFI’s earnings in FY18.
- Source: Press Release