United Natural Foods has completed its previously announced acquisition of all of the outstanding equity interests of Haddon House Food Products and certain affiliated entities as well as certain real estate on financial terms previously announced.
The Company financed the purchase price for Haddon with borrowings under the Company's revolving credit facility. The final purchase price is subject to a customary post-closing net working capital adjustment.
With the completion of the transaction, Haddon is now a wholly-owned subsidiary of UNFI, and will continue to operate as Haddon House Food Products, Inc. Founded in 1960 by the Anderson family, Haddon is a well-respected distributor and merchandiser of natural and organic and gourmet ethnic products throughout the Eastern United States.
Haddon is headquartered in Medford, NJ, and has a diverse, multi-channel customer base including conventional supermarkets, gourmet food stores and independently owned product retailers.