FMS Solutions Inc. says it has entered into a definitive agreement to acquire United Natural Foods Inc. (UNFI)’s Retail Accounting Services Division. This transaction, which is expected to be completed by June 6, 2020, makes the second acquisition of the year for FMS, accelerating its growth strategy.
FMS’s position as a retail accounting provider combined with UNFI’s diversified customer portfolio will create a new roadway to help more independent retailers succeed.
“We saw an opportunity to merge two organizations with the same client-centric approach and genuine passion for the grocery industry,” stated Gary Bickmore, VP of strategic alliances at FMS. “UNFI and FMS have a long history of providing excellent accounting and payroll services across North America. We look forward to overcoming any challenges of assimilating both teams. Moreover, we expect to continue to provide best in class services to all our clients.”
Under the terms of the agreement, UNFI’s retail accounting teams located in Anniston, Alabama; Champaign, Illinois; Hopkins, Minnesota; Pittsburgh, Pennsylvania, and St Louis, Missouri, will become FMS subsidiaries. UNFI’s retail accounting employees are being offered continued employment and will transition to FMS when the transaction closes in June.
“The future looks promising; we are thrilled to bring on board and support the great retailers and associates coming from UNFI,” said Bickmore. “Beyond the benefits from what both companies bring to the table, the acquisition also adds to our capacity to help more independent grocers manage their operations.”
FMS, based in Fort Lauderdale, Florida, now will support more than 5,000 stores and approximately 25 percent of independent grocery sales in the US.
UNFI is a food wholesaler delivering the widest variety of products to customer locations throughout North America, including natural product superstores, independent retailers, conventional supermarket chains, e-commerce retailers and food service customers. Today, UNFI is the largest publicly traded grocery distributor in America.