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Stock Market & Financial Investment News

News Breaks
May 22, 2014
07:31 EDTUNFIUnited Natural Foods to acquire Tony's Fine Foods for approx. $195.3M
United Natural Foods announced that it had entered into a definitive agreement to acquire all of the stock of Tony’s Fine Foods, a distributor of perishable food products including a wide array of specialty protein, cheese, deli, food service and bakery goods throughout the Western United States, as well as Alaska and Hawaii. Founded in 1934 by the Ingoglia family, Tony’s products are sold primarily to retail and specialty grocers, food service customers and other distribution companies. The total purchase price for the acquisition of the business and related real estate is expected to be approximately $195.3M, subject to certain post-closing adjustments, and will consist of approximately $187.8M in cash and approximately 112,000 shares of the company’s common stock. The shareholders of Tony’s will utilize a portion of the proceeds to pay off all of Tony’s’ existing indebtedness as of the closing. The company expects to finance the cash portion of the purchase price with a combination of available cash and borrowings under its revolving credit facility, which it amended yesterday to, among other things, increase the aggregate amount of availability by $100M. A portion of the borrowings under the revolving credit facility are expected to be refinanced into an approximately $150M real-estate backed term loan facility that the company anticipates it will enter into in 4Q114 or 1Q15.
News For UNFI From The Last 14 Days
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August 28, 2015
10:03 EDTUNFIOn The Fly: Analyst Initiation Summary
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07:36 EDTUNFIUnited Natural Foods initiated with a Sell at Pivotal Research
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August 21, 2015
08:53 EDTUNFIUnited Natural Foods named a Best Idea at Stephens
Stephens named United Natural Foods a Best Idea for the remainder of 2015 following better than expected preliminary Q4 results. The firm is encouraged by accelerated performance into Q1 2016, the contract renewal with a large customer, and potential for increased M&A to supplement growth in key product categories and regions. Stephens rates United Natural Foods an Overweight with a $72 price target on shares.
August 20, 2015
07:14 EDTUNFIUnited Natural Foods guidance should change sentiment, says Canaccord
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August 19, 2015
18:34 EDTUNFIOn The Fly: After Hours Movers
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16:25 EDTUNFIUnited Natural Foods sees FY16 EPS $2.86-$2.98, consensus $3.05
Sees FY16 revenue $8.51B-$8.67B , consensus $8.61B.
16:22 EDTUNFIUnited Natural Foods sees FY15 EPS $2.85-$2.86, consensus $2.86
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16:19 EDTUNFIUnited Natural Foods reports preliminary Q4 EPS GAAP EPS 72c-73c
Consensus for Q4 EPS is 72c. Reports preliminary Q4 revenue $2.06B-$2.065B, consensus $2.05B.
August 14, 2015
12:49 EDTUNFIPeltz's Trian takes 7% activist stake in Sysco
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