United Natural Foods To Buy Gourmet Guru For Undisclosed Sum

By Markets MarketWatch Pulse

United Natural Foods Inc. said Thursday it has acquired all of the outstanding shares of Gourmet Guru for an undisclosed sum, expanding its line of fresh and organic brands and its position in key urban markets. The deal is expected to be neutral to fiscal 2017 earnings but to boost fiscal 2018 earnings, the company said in a statement. Gourmet Guru had sales of $50 million for the 12 months ended June 30. United Natural Foods shares were not yet active in premarket trade, but are up 23% in the year so far, while the S&P 500 has gained 6.4%.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.