United Natural Food Inc Eyes Acquisitions in Canada
MIAMI — United Natural Foods Inc. believes it can double the size of its business in Canada through organic growth and additional acquisitions, Mark Shamber, chief financial officer for the Providence, R.I.-based distributor, told attendees at an investment conference here this week.
Sales in Canada accounted for approximately $250 million of UNFI’s $5.24 billion in sales during fiscal 2012. With a market size about a 10th of that of the U.S., “to be roughly the same size we are in Canada as we are in the U.S., we should be in a position to double the Canadian business,” Shamber said in remarks at the ICR XChange Conference.
UNFI entered Canada with the acquisition of SunOpta in 2010 and more recently acquired specialty distributors B.K. Sethi Distribution and Disley Food Services, folding both into its existing business without a lot of expense. Shamber termed Canada “even more fragmented” than the U.S.
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