| Ticker: | UNFI | 260 Lake Road | |
| Exchange: | NASDAQ-National Market | Dayville, Connecticut 06241 | |
| Industry: | Wholesale | (860) 779-2800 |
| Type of Shares: | Common Shares | Filing Date: | 9/4/96 | |
| U.S. Shares: | 2,900,000 | Offer Date: | 11/1/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 2,900,000 | Offer Price: | $13.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.94 | |
| Offering Amount: | $40,600,000 | Selling: | $0.55 | |
| Expenses: | $758,000 | Reallowance: | $0.10 | |
| Shares Out After: | 12,378,425 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| Auditor: KPMG Peat Marwick | |||||
| 9 Month Ending Financials | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 10/31/95 | 7/31/96 | 7/31/95 | 7/31/96 | ||
| Revenue: | $283.32 | $286.45 | $188.50 | Assets: | $98.74 |
| Net Income: | $2.60 | $4.03 | $3.23 | Liabilities: | $80.56 |
| EPS: | $0.26 | $0.40 | $0.32 | Equity: | $18.18 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is one of only two national distributors of natural foods and related products in the United States. The company currently serves more than 5,500 customers located in 43 states, including independent natural products stores, natural products supermarket chains and conventional supermarkets. The company distributes more than 25,000 high-quality, national, regional and private label natural products in six categories consisting of groceries and general merchandise, nutritional supplements, bulk and foodservice products, personal care items, perishables and frozen foods. United Natural's distribution operations are divided into three principal regions: Cornucopia Natural Foods, in the eastern United States, Mountain People's Warehouse Incorporated in the western United States and Rainbow Natural Foods, Inc. in the Rocky Mountains and Plains regions. The company operates five strategically located distribution centers and two satellite staging facilities within these regions to better serve its customers and realize operating efficiencies. The company also owns and operates eight retail natural products stores located in the eastern United States that management believes complement its distribution business. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay certain indebtedness, for working capital and for general corporate purposes including the expansion of the company's distribution facilities. |
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