UNFI Selected as New Grocery Wholesaler by Key Food
October 06 2020 - 8:00AM
Business Wire
United Natural Foods, Inc. (NYSE: UNFI) (“UNFI”) and Key Food
Stores Co-Operative, Inc. (“Key Food”) today announced they have
reached a long-term supply agreement for UNFI to serve as the
primary grocery wholesaler to Key Food with expected sales to UNFI
of approximately $10 billion over 10 years. Founded in 1937, Key
Food is a co-operative of independently owned and corporate
supermarkets located in New York, New Jersey, other states in the
Northeast, and Florida. Stores are operated under multiple banner
names that include Key Food, The Food Emporium, Food Universe, Food
Dynasty, SuperFresh, and Gala Foods Supermarkets.
“Key Food, whose members operate more than 315 stores, is a
rapidly growing organization with a large market share in the New
York market,” said UNFI’s Chairman and CEO, Steven Spinner. “We
have recently begun to service their Florida stores and are excited
to expand service to their Northeast stores toward the end of 2021.
We believe our unmatched product variety and knowledge of today’s
consumer will benefit Key Food and its retailers, and we look
forward to driving value to their operations.”
“We are excited about our relationship with UNFI,” said Key
Food’s Chief Executive Officer, Dean Janeway. “Their unique ability
to service the entire store on a single delivery in addition to
their industry expertise and buying power gives Key Food members an
advantage in the marketplace. We are thrilled to partner with the
UNFI team, and our members look forward to offering UNFI’s full
line of products to their shoppers.”
In its role as the primary grocery wholesaler, UNFI will supply
Key Food stores with conventional, natural and organic grocery
products, along with a wide variety of international items. All
categories such as protein, produce, frozen bakery, deli, general
merchandise/health and beauty, as well as Key Food’s Urban Meadow®
private brand and UNFI-owned brands such as Essential Everyday® and
Woodstock® will also be supplied.
To expand the breadth and scope of its distribution network,
UNFI will be opening a new state-of-the-art Class A distribution
facility in Lehigh County, PA, which is currently under
construction. This facility, once complete, is strategically
located to provide an additional 1.3 million square feet of
distribution capacity for UNFI’s existing and new customers in the
greater Northeast and surrounding areas, including Key Food. UNFI
anticipates the new distribution center will create more than 500
local jobs and expects the facility to open in Fall 2021.
About Key Food Store Co-Operative,
Inc.
Key Food Stores Co-Operative, Inc. includes over 315
member-owned and corporate grocery stores with approximately $3.2
billion in annual sales. In addition to Key Food, these stores
operate under various other banners including: Food Universe, The
Food Emporium, SuperFresh, Food Dynasty, and Gala Foods
Supermarkets in all five boroughs, Long Island, upstate New York,
New Jersey, Connecticut, Massachusetts, Pennsylvania, and Florida.
Please visit www.keyfood.com for more information.
About United Natural
Foods
UNFI is North America’s premier food wholesaler delivering the
widest variety of products to customer locations throughout North
America including natural product superstores, independent
retailers, conventional supermarket chains, ecommerce retailers,
and food service customers. By providing this deeper ‘full-store’
selection and compelling brands for every aisle, UNFI is uniquely
positioned to deliver great food, more choices, and fresh thinking
to customers everywhere. Today, UNFI is the largest publicly-traded
grocery distributor in America. To learn more about how UNFI is
Moving Food Forward, visit www.unfi.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201006005638/en/
FOR INVESTORS: Steve Bloomquist, 952-828-4144
Steve.j.bloomquist@unfi.com FOR MEDIA: Jeff Swanson,
952-903-1645 Jeffrey.s.swanson@unfi.com
United Natural Foods (NYSE:UNFI)
Historical Stock Chart
From Aug 2024 to Sep 2024
United Natural Foods (NYSE:UNFI)
Historical Stock Chart
From Sep 2023 to Sep 2024