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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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July 28, 2015
10:00 EDTUNFIOn The Fly: Analyst Downgrade Summary
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09:07 EDTUNFIUnited Natural Foods downgraded on customer loss at BMO Capital
As noted earlier, BMO Capital downgraded United Natural Foods to Market Perform from Outperform. The firm downgraded the stock after the company announced that its contract with Albertsons would not be renewed. BMO thinks the company continues to be threatened by competition from KeHE and regional suppliers. Target to $52 from $71.
08:21 EDTUNFIUnited Natural Foods valuation discounts new environment, says Canaccord
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06:13 EDTUNFIUnited Natural Foods downgraded to Market Perform at BMO Capital
BMO Capital downgraded United Natural Foods to Market Perform from Outperform.
July 27, 2015
09:37 EDTUNFIUnited Natural Foods mentioned cautiously at Cleveland Research
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July 22, 2015
10:01 EDTUNFIOn The Fly: Analyst Downgrade Summary
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08:17 EDTUNFIUnited Natural Foods downgraded to Neutral from Outperform at Wedbush
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08:01 EDTUNFIUnited Natural Foods downgraded to Equal Weight at Morgan Stanley
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06:49 EDTUNFIUnited Natural downgraded to Equal Weight from Overweight at Morgan Stanley
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July 21, 2015
10:01 EDTUNFIOn The Fly: Analyst Downgrade Summary
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08:20 EDTUNFIUnited Natural Foods downgraded following contract loss at Oppenheimer
As noted earlier,, Oppenheimer downgraded United Natural Foods to Perform from Outperform. After United Natural Foods lost a roughly $400M contract with Albertson's, the firm thinks the loss of the contract will cause United Natural's organic sales growth to be "sluggish," and predicts that the shares will be range-bound "for now."
08:19 EDTUNFIUnited Natural Foods price target lowered to $65 from $71 at Canaccord
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08:01 EDTUNFIUnited Natural Foods price target lowered to $72 from $76 at Stephens
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07:00 EDTUNFIUnited Natural Foods downgraded to Underperform from Neutral at BofA/Merrill
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06:27 EDTUNFIUnited Natural Foods downgraded to Perform from Outperform at Oppenheimer
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July 20, 2015
16:17 EDTUNFIUnited Natural Foods announces termination of contract with Albertsons
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