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United Natural Foods Inc. (UNFI) has completed its previously revealed acquisition of all of the outstanding equity interests of Haddon House Food Products Inc. and certain affiliated entities, in addition to certain real estate on financial terms announced earlier.
The Providence, R.I.-based distributor financed the purchase price for Haddon with borrowings under its revolving credit facility. The final purchase price is subject to a customary post-closing net working capital adjustment.
With the completion of the deal, Haddon is now a wholly owned subsidiary of UNFI, but will continue to operate as Haddon House Food Products Inc. Medford, N.J.-based Haddon is a distributor and merchandiser of natural and organic and gourmet ethnic products throughout the eastern United States. The company has a diverse, multichannel customer base that includes conventional supermarkets, gourmet food stores and independently owned product retailers.
UNFI carries and distributes more than 85,000 products to 40,000-plus 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 foodservice channel.