UNFI Increases Revolving Credit Facility to $400 Million

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UNFI Increases Revolving Credit Facility to $400 Million

DAYVILLE, Conn. -- United Natural Foods, Inc. here said last week that it has completed an amended and restated five-year $400 million revolving credit facility that will equip it to continue to expand its distribution network and stand ready should acquisition opportunities arrive

The specialty distributor completed the credit deal with a bank group led by Bank of America Business Capital as the administrative agent, effective Nov. 27.

The new credit facility replaces an existing $250 million revolving credit facility and extends the maturity date of the credit facility to Nov. 27, 2012. UNFI's outstanding commitments under the amended and restated credit facility as of Oct. 27 were about $165 million.

UNFI president and c.e.o. Michael Funk said in a statement that the company's relationship with Bank of America "provides us enhanced flexibility to continue to execute plans to grow the Company, expand our distribution network, and selectively pursue strategic investment opportunities."

UNFI carries and distributes over 40,000 products to more than 17,000 customers across the country. The company serves such retail formats as conventional supermarket chains, natural product superstores, independent retail operators, and the foodservice channel.