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United Natural Foods Inc. (UNFI) has acquired all of the outstanding stock of Gourmet Guru for an undisclosed amount in an all-cash transaction.
Founded in 1996, Gourmet Guru is a Bronx, N.Y.-based distributor and merchandiser of fresh and organic food, focusing on new and emerging brands. According to UNFI, the acquisition will improve its ability to find and cultivate such brands and continue to grow its presence in key urban markets. Gourmet Guru had $50 million in net sales for the 12 months ended June 30. The transaction is expected to be neutral to UNFI’s fiscal 2017 earnings and modestly accretive to its fiscal 2018 earnings.
Steven Spinner, president and CEO of Providence, R.I.-based UNFI, noted that the strategic acquisition would “strengthen our expertise in identifying new and fast-growing health-and-wellness brands.”
“Gourmet Guru brings diverse skills in merchandising and service, targeting cities and high-traffic locations, which will enhance UNFI’s unique ability to deliver on the most innovative and local brands,” added Kirsten Hogan, UNFI’s national VP of retail services.
“UNFI recognizes the importance of helping exciting and new producers of fresh and organic foods,” said Jeff Lichtenstein, CEO of Gourmet Guru, who will remain with the company in a leadership role.
UNFI carries and distributes more than 90,000 products to 45,000-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.