FMS Solutions Inc. announced that 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 leading 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, Vice President 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, AL; Champaign, IL; Hopkins, MN; Pittsburgh, PA, and St Louis, MO will become FMS subsidiaries. UNFI’s retail accounting employees are being offered continued employment with FMS and will transition 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’s Retail Accounting Services,” 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 will now support over 5,000 stores and approx. 25% of independent grocery sales in the US