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United Natural Foods Inc. has completed its previously revealed acquisition of all of the stock of Tony's Fine Foods for about $195.3 million. The final purchase price is subject to a customary post-closing net working capital adjustment.
With the completion of the deal, West Sacramento, Calif.-based Tony's, a distributor of perishable food products such as specialty protein, cheese, deli, foodservice and bakery goods throughout the western states, Alaska and Hawaii, is now a wholly owned subsidiary of UNFI, but will continue to operate as Tony's Fine Foods. Founded in 1934 by the Ingoglia family, Tony's sells products mainly to retail and specialty grocers, foodservice customers, and other distribution companies.
Providence, R.I.-based UNFI carries and distributes 65,000-plus products to more than 31,000 customer locations across the United States and Canada. The company serves a wide variety of retail formats, among them conventional supermarket chains, natural product superstores, independent retail operators and the foodservice channel.