DAYVILLE, Conn., Nov. 29 /PRNewswire-FirstCall/ -- United Natural Foods,
Inc. (Nasdaq: UNFI) (the "Company") today announced that it has completed an
amended and restated five-year $400 million revolving credit facility with a
bank group that was led by Bank of America Business Capital, as the
Administrative Agent, effective November 27, 2007.
The amended and restated credit facility replaces an existing $250 million
revolving credit facility and extends the maturity date of the credit facility
to November 27, 2012. The Company's outstanding commitments under the amended
and restated credit facility as of October 27, 2007 were approximately $165
million.
Michael Funk, President and Chief Executive Officer, commented, "We are
pleased to continue our long and successful relationship with Bank of America,
which provides us enhanced flexibility to continue to execute plans to grow
the Company, expand our distribution network and selectively pursue strategic
investment opportunities."
About United Natural Foods
United Natural Foods, Inc. carries and distributes more than 40,000
products to more than 17,000 customers nationwide. The Company serves a wide
variety of retail formats including conventional supermarket chains, natural
product superstores, independent retail operators and the food service
channel. United Natural Foods, Inc. was ranked by Forbes in 2005 as one of the
"Best Managed Companies in America," ranked by Fortune in 2006 and 2007 as one
of its "Most Admired Companies," and ranked by Business Ethics as one of its
"100 Best Corporate Citizens for 2006."
For more information on United Natural Foods, Inc., visit the Company's
website at www.unfi.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements in this press release regarding the Company's business
that 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 annual report on Form 10-K
filed with the Commission on September 26, 2007, 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. The Company is not
undertaking to update any information in the foregoing reports until the
effective date of its future reports required by applicable laws. Any
projections of future results of operations should not be construed in any
manner as a guarantee that such results will in fact occur. These projections
are subject to change and could differ materially from final reported results.
The Company may from time to time update these publicly announced projections,
but it is not obligated to do so.
SOURCE United Natural Foods
CONTACT: Mark Shamber, Chief Financial Officer of United Natural Foods,
1-860-779-2800; or FINANCIAL RELATIONS BOARD: Joseph Calabrese,
1-212-827-3772
Web site: http://www.unfi.com
(UNFI)