PROVIDENCE R.I. (September 27, 2010)—United Natural Foods Inc. said Monday that it has begun its public offering of 3.85 million shares of its common stock.
The food distributor said it plans to use the net proceeds to repay some of its revolving credit facility.
BofA Merrill Lynch and Barclays Capital are acting as joint book running managers for the offering. BB&T Capital Markets and RBC Capital Markets are acting as co-managers for the offering.
Shares of the company fell 7 cents to close at $35.30 and fell 68 cents in after-hours trading.