-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VawuYua8wZhky4JCwiWW6JOV7Q1CywhHPqYLDUl0Mr8siMbaogbaCUs+Ne7j8k32 aQChoqJUrDGQulX4V1p8IQ== 0001171520-06-000396.txt : 20061002 0001171520-06-000396.hdr.sgml : 20061002 20061002173043 ACCESSION NUMBER: 0001171520-06-000396 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060926 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061002 DATE AS OF CHANGE: 20061002 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITED NATURAL FOODS INC CENTRAL INDEX KEY: 0001020859 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & GENERAL LINE [5141] IRS NUMBER: 050376157 STATE OF INCORPORATION: DE FISCAL YEAR END: 0729 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15723 FILM NUMBER: 061121625 BUSINESS ADDRESS: STREET 1: PO BOX 999 STREET 2: 260 LAKE RD CITY: DAYVILLE STATE: CT ZIP: 06241 BUSINESS PHONE: 8607792800 MAIL ADDRESS: STREET 1: PO BOX 999 STREET 2: 260 LAKE RD CITY: DAYVILLE STATE: CT ZIP: 06241 8-K 1 eps2267.txt UNITED NATURAL FOODS, INC. ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): September 26, 2006 UNITED NATURAL FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 000-21531 05-0376157 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 260 Lake Road Dayville, CT 06241 (Address of Principal Executive Offices) (Zip Code) (860) 779-2800 (Registrant's Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) ================================================================================ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 1.01. Entry into a Material Definitive Agreement. On September 26, 2006, United Natural Foods, Inc. (the "Company") entered into a definitive seven-year Primary Distribution Agreement (the "Distribution Agreement") with Whole Foods Market Distribution, Inc. ("Whole Foods Market"), a wholly owned subsidiary of Whole Foods Market, Inc., pursuant to which the Company will continue to serve as the primary wholesale natural grocery distributor to Whole Foods Market in the regions of the United States that the Company currently serves. The Distribution Agreement is effective as of September 26, 2006 and replaces the existing three-year distribution agreement between the Company and Whole Foods Market, which was scheduled to expire on December 31, 2007. The Distribution Agreement relates to all products purchased by Whole Foods Market from the Company (excluding products distributed by Albert's Organics, Inc., a wholly owned subsidiary of the Company, and products purchased by Whole Foods Market from the Company's manufacturing arms and retail divisions), and generally extends the Company's current arrangement with Whole Foods Market through September 29, 2013. The Distribution Agreement requires Whole Foods Market, in eight of the eleven regions which it serves, to continue to purchase a stated minimum amount of products from the Company during each Whole Foods Market fiscal year during the term of the Distribution Agreement. The Distribution Agreement also requires that, collectively, Whole Foods Market's U.S. grocery stores in nine of the eleven regions that it serves and where the Company is currently the primary distributor, purchase from the Company a dollar majority of those products purchased from all wholesale natural grocery distributors. A copy of the press release announcing the entry into the Distribution Agreement is attached as Exhibit 99.1 hereto, and, except for the portion thereof related to the information disclosed under Item 2.02 below, is incorporated by reference herein. Item 1.02. Termination of a Material Definitive Agreement. As described under Item 1.01 above, effective September 26, 2006, the Company's prior distribution agreement with Whole Foods Market terminated. The prior agreement was scheduled to terminate on December 31, 2007 in accordance with its terms. Item 2.02. Results of Operations and Financial Condition. The following information is being furnished under Item 2.02. Results of Operations and Financial Condition. This information, including the portion of the exhibit attached hereto related to the information disclosed under this Item 2.02, shall not be deemed "filed" for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information included under Item 2.02 in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or under the Exchange Act, regardless of any general incorporation language in such filing. On October 2, 2006, in connection with announcing its entry into the Distribution Agreement, the Company reaffirmed its fiscal 2007 guidance, which originally was provided on August 30, 2006. Item 9.01. Financial Statements and Exhibits (a) Financial Statements of Businesses Acquired: Not Applicable (b) Pro Forma Financial Information: Not Applicable (c) Exhibits. Exhibit No. Description ----------- ----------- 99.1 Press Release, dated October 2, 2006: United Natural Foods, Inc. Extends Long-Term Partnership with Whole Foods Market(R). SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNITED NATURAL FOODS, INC. By: /s/ Mark E. Shamber ----------------------------- Mark E. Shamber Vice President and acting Chief Financial Officer Date: October 2, 2006 EX-99.1 2 ex99-1.txt PRESS RELEASE Exhibit 99.1 [LETTERHEAD OF UNITED NATURAL FOODS, INC.] UNITED NATURAL FOODS, INC. EXTENDS LONG-TERM PARTNERSHIP WITH WHOLE FOODS MARKET(R) SIGNS NEW SEVEN-YEAR PRIMARY DISTRIBUTION AGREEMENT Dayville, Connecticut - October 2, 2006 - United Natural Foods, Inc. (NASDAQ: UNFI) announced today that Whole Foods Market Distribution, Inc., a wholly owned subsidiary of Whole Foods Market, Inc. (NASDAQ: WFMI) and UNFI have entered into a new seven-year Primary Distribution Agreement. Under the terms of the definitive agreement, effective from September 26, 2006 through September 29, 2013, United Natural Foods will continue to serve as the primary wholesale natural grocery distributor to Whole Foods Market in its United States regions where United Natural Foods currently serves as the primary distributor. This new agreement replaces an existing three-year primary distribution agreement that was not scheduled to expire until December 31, 2007. At this time, additional terms of the agreement are not being disclosed. Walter Robb, Co-President and Co-Chief Operating Officer of Whole Foods Market, commented, "Whole Foods Market is pleased to extend our long-term relationship with United Natural Foods. This seven-year agreement will allow us to concentrate our capital investment and resources on aggressively expanding our store base. Having United Natural Foods as a distribution partner is an important element of our growth strategy and we look forward to building and enhancing the strategic partnership between the two companies." Michael Funk, United Natural Foods' President and Chief Executive Officer, commented, "We are excited about the opportunity to extend our decades old partnership with Whole Foods Market, the world's leading natural and organic foods supermarket. This new long-term agreement represents a natural progression for both companies and, as America's premier certified organic distributor, we are committed to helping our customers be more successful in their marketplace by providing the highest quality product assortments and value-added support services." "Having secured Whole Foods Market's long-term commitment in utilizing United Natural Foods as its primary natural grocery distributor, we will be able to continue to invest in our infrastructure to provide scalability as well as the necessary support to meet their growth needs as well as the growth of all our customers. Over the next 18 to 24 months, we will continue to focus on enhancing our distribution network in order to improve customer service as well as reduce transportation costs." Mr. Funk added, "We look forward to capitalizing on the tremendous growth opportunities that exist in the industry and helping Whole Foods Market, as it implements its store development pipeline, to meet growth goals." United Natural Foods reported net sales for fiscal 2006, ended July 29, 2006, of $2.43 billion. Whole Foods accounted for approximately 26% of United Natural Foods sales in fiscal 2006. United Natural Foods Reiterates Fiscal 2007 Guidance In conjunction with the announcement of the new long-term agreement with Whole Foods Market, the Company reiterated its fiscal 2007 guidance, which was originally provided on August 30, 2006. For fiscal 2007, revenues are expected to increase approximately 11% to 15% from fiscal 2006 to a range of $2.7 billion to $2.8 billion. Fiscal 2007 earnings per diluted share are expected to be in the range of $1.25 to $1.30 per share, an increase of 15% to 19% over fiscal 2006. About United Natural Foods United Natural Foods, Inc. carries and distributes more than 40,000 products to more than 20,000 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 was ranked by Forbes in 2005 as one of the "Best Managed Companies in America," ranked by Fortune in 2006 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 http://www.unfi.com. UNITED NATURAL FOODS FINANCIAL RELATIONS BOARD Mark E. Shamber Joseph Calabrese Acting Chief Financial Officer General Information (860) 779-2800 (212) 827-3772 "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 quarterly report on Form 10-Q filed with the Commission on June 8, 2006, 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. # # # -----END PRIVACY-ENHANCED MESSAGE-----