United Natural Foods Inc has provided its financial outlook for the fiscal year ending July 31, 2006, and announced the acquisition of substantially all of the assets of Roots & Fruits Cooperative, a privately owned natural foods distributor of fresh produce and perishables.
For the fiscal year ending July 31, 2006, revenues are expected to increase about 10% to 15% from expected fiscal 2005 levels to a range of $2.25 billion to $2.35 billion. Capital expenditures are expected to be in the range of $30 million to $35 million during fiscal year 2006.
United Natural Foods' wholly owned subsidiary, Albert's Organics Inc, has completed the acquisition of substantially all of the assets of Roots & Fruits Cooperative, a Minnesota-based organic wholesale distributor. In operation since 1978, Roots & Fruits has annual revenues of about $20 million and distributes to some 500 customers in the upper Midwest region of the United States.
Roots & Fruits will become a member of the Albert's Organics Family of Companies. Terms of the acquisition were not disclosed.