United Natural Foods Inc (NYSE: UNFI)

United Natural Foods is a leading distributor of grocery and non food products and a provider of support services to retailers across the United States and Canada. The company operates a network of distribution centers that supply a broad assortment of national regional and private label brands. Its product categories include grocery and general merchandise perishables frozen foods wellness and personal care items and bulk and foodservice products. United Natural Foods also offers its own private label brands and a range of digital and professional services to help customers improve their operations.

Revenue is generated primarily through the sale of food and non food products to wholesale customers including grocery chains independent retailers and other commercial accounts. The company also earns income from its private label offerings and from value added services such as merchandising logistics data analytics and e commerce solutions. Sales to its own retail stores are included in the consolidated results but intercompany transfers are eliminated in segment reporting. United Natural Foods serves a diverse customer base that ranges from large national grocers to small independent stores throughout North America.

The company operates through the following segments: Natural Conventional and Retail.

• Natural: This segment focuses on the wholesale distribution of natural organic and specialty grocery and non food products and includes the company’s portfolio of natural owned brands and its natural and organic snack food manufacturing operations.

• Conventional: This segment handles the wholesale distribution of conventional grocery and non food products and includes the company’s portfolio of conventional owned brands.

• Retail: As of August 2 2025 this segment comprises 75 Cub Foods and Shoppers retail grocery stores that offer an extensive grocery assortment along with general merchandise health and beauty care and pharmacy products and the company’s private label lines.

United Natural Foods holds a strong position as one of the largest grocery wholesalers in North America operating 52 distribution centers with approximately 30 million square feet of warehouse space. The company’s coast to coast presence enables it to serve customers in all 50 states and all ten Canadian provinces. Competitive advantages include a vast product assortment a robust private label program and a suite of digital and professional services that differentiate it from traditional wholesalers. Primary competitors include other national and regional food distributors as well as retailers that develop self distribution capabilities.

The company serves more than 30,000 customer locations ranging from large grocery chains to independent retailers and specialty stores. While specific customer names are not disclosed one natural customer accounted for over 10% of total net sales in fiscal 2025. The company’s retail operations serve shoppers through its Cub Foods and Shoppers banners and its wholesale business supplies a wide variety of institutional and commercial accounts.