United Natural Foods, Inc. (Nasdaq: UNFI) announced that it has entered into a definitive agreement to acquire all outstanding stock of Haddon House Food Products, Inc. (“Haddon”) and certain affiliated entities as well as certain real estate, in a cash transaction for approximately $217.5 million, subject to certain customary post-closing adjustments. Founded in 1960 by the Anderson family, Haddon is a well-respected distributor and merchandiser of natural and organic and gourmet ethnic products throughout the Eastern United States. Haddon has a diverse, multi-channel customer base including conventional supermarkets, gourmet food stores and independently owned product retailers.

“Haddon House has a unique product and service offering that we expect to play an important role in our ongoing strategy to build out UNFI's gourmet and ethnic product categories across the country,” stated Steven Spinner, UNFI’s President and Chief Executive Officer. “The Haddon House team has demonstrated exemplary customer service and growth over the last decade while also building a distinctive private label brands business. We are excited to have them join the UNFI family as we venture into new channels and markets together. I look forward to working with David Anderson, Sr. and David Anderson, Jr., both of whom will remain at the company in leadership roles, as we move this exciting service offering and product category across our companies and throughout the US."

“This transaction will provide us with greater operating scale and resources to further develop our product and service offering as we work with the UNFI team to broaden our geographic reach and route to market across complementary and new customer bases. We are excited about the opportunities this combination will create for consumers, employees, suppliers, and our stockholders,” stated David Anderson, Sr., President, Haddon House Food Products, Inc.

Consummation of the transaction is subject to the satisfaction of customary closing conditions, including compliance with the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and is expected to close at the start of the fourth quarter of fiscal 2016. Upon closing, Haddon will be operated as a wholly-owned subsidiary of the Company. The transaction is expected to be accretive to the Company’s earnings in fiscal 2017. The Company expects to finance the purchase price with a combination of available cash and borrowings under its revolving credit facility.

Conference Call & Webcast

The Company will host a conference call and audio webcast today, Monday, February 29, 2016 at 8:00 a.m. EST to discuss the proposed acquisition of Haddon House as well as its preliminary results and updated fiscal 2016 guidance, which was also announced in a separate release today. The audio webcast of the conference call will be available to the public, on a listen-only basis, via the Internet at the Investors section of the Company's website at www.unfi.com. The online archive of the webcast will be available on the Company's website for 30 days.

About United Natural FoodsUnited Natural Foods, Inc. carries and distributes more than 85,000 products to more than 40,000 customer locations throughout the United States and Canada. The Company serves a wide variety of retail formats including conventional supermarket chains, natural product superstores, independent retail operators and the food service channel. United Natural Foods, Inc. was ranked by Forbes Magazine in 2014 as one of “America's Best Managed Companies,” ranked by Fortune in 2012 as one of its “Most Admired American Companies,” and chosen by Food Logistics Magazine as one of its 2013 Top 20 Green Providers.

For more information on United Natural Foods, Inc., visit the Company’s website at www.unfi.com.