Shares of United Natural Foods, Inc. (UNFI) are rising more than 3% Monday morning after the food distribution company said it has reached a long-term supply agreement extension with National Co+op Grocers (NCG).
This new agreement allows UNFI to continue as the primary grocery wholesaler and national distributor to NCG-affiliated retail food co-ops. NCG is one of UNFI’s largest customers.
The companies are to focus on various business development initiatives resulting from UNFI’s expanded offering, providing NCG’s 147 member co-ops access to over 250,000 SKUs of natural, organic, conventional, specialty, bulk, and wellness products. This offering includes the addition of UNFI’s Brands+ portfolio and its more than 5,000 products across 200 store categories.
UNFI is currently trading at $18.32. It has traded in the range of $5- $23.38 in the past one year.
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