DAYVILLE, Conn., Dec. 17 /PRNewswire-FirstCall/ --
United Natural Foods, Inc. (Nasdaq: UNFI) today announced that the membership
of Northeast Cooperatives voted at a special meeting held Sunday, December 15,
2002, in Brattleboro, Vermont to approve the proposed plan of merger with
United Natural Foods. Approximately 96 percent of the votes cast at the
special meeting were in favor of the merger. Northeast Cooperatives' Board of
Directors and management had recommended the proposal to its members as in the
best interests of the company's members and customers. Terms of the
transaction were not disclosed.
The proposed merger, which was previously announced on October 23, 2002,
is tentatively expected to close on December 31, 2002, and remains subject to
customary closing conditions.
"We are pleased that Northeast Cooperatives' members endorsed our
enthusiasm for the proposed merger and recognize the benefits of a combined
United Natural Foods and Northeast Cooperatives," said Steven Townsend, United
Natural Foods President.
About Northeast Cooperatives
Northeast Cooperatives, headquartered in Brattleboro, VT, is a natural
foods distributor that carries and distributes over 14,000 products to
approximately 2,800 customers primarily in the Northeast. Northeast
Cooperatives serves a wide variety of retail formats including conventional
supermarket chains, natural product superstores, independent retail operators,
cooperatives, institutions and buying clubs. Northeast Cooperatives had
approximately $120 million in sales for the latest twelve months.
About United Natural Foods
United Natural Foods, Inc. carries and distributes over 30,000 products to
more than 10,000 customers nationwide. The Company serves a wide variety of
retail formats including conventional supermarket chains, natural product
superstores and independent retail operators.
For more information on United Natural Foods, Inc., visit the Company's
web-site at www.unfi.com .
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements in this press release regarding United Natural's business
which are not historical facts are "forward-looking statements" that involve
risks and uncertainties. For a discussion of such risks and uncertainties,
which could cause actual results to differ from those contained in the
forward-looking statements, including but not limited to general business
conditions, the impact of competition and our dependence on principal
customers, see "Risk Factors" in the Company's quarterly report on Form 10-Q
filed with the Commission on December 13, 2002, and its other filings under
the Securities Exchange Act of 1934, as amended. Any forward-looking
statements are made pursuant to the Private Securities Litigation Reform Act
of 1995 and, as such, speak only as of the date made. United Natural is not
undertaking to update any information in the foregoing reports until the
effective date of its future reports required by applicable laws.
SOURCE United Natural Foods, Inc.
/CONTACT: Todd Weintraub, Chief Financial Officer of United Natural
Foods, Inc., +1-860-779-2800, or General Information, Joseph Calabrese,
+1-212-445-8434, Analyst Information, Vanessa Schwartz, +1-212-445-8433, both
of FRB Weber Shandwick/