United Natural Foods Completes Haddon House Food Products Acquisition

United Natural Foods, Inc. UNFI completed its Haddon House Food Products, Inc. acquisition, which was announced earlier. The company indicated it acquired all of the outstanding equity interests of Haddon and some affiliated entities apart from some real estate on financial terms that were previously announced.

United Natural Foods said the acquisition was funded with borrowings under the Company's revolving credit facility. The company added that the final purchase price was subject to a customary post-closing net working capital adjustment.

As a result of completion of the transaction, the company said Haddon would now be a fully owned subsidiary of United Natural Foods. However, it would continue to function as Haddon House Food Products, Inc, which was established in 1960 by the Anderson family. It was a known fact that Haddon was a well-respected distributor and merchandiser of natural and organic and gourmet ethnic products throughout the Eastern United States.

Haddon is headquartered in Medford, New Jersey, and has a diverse, multi-channel customer base. That included traditional supermarkets, gourmet food stores and independently owned product retailers.

On Monday, the stock traded 2.8 percent higher.