Blooming Prairie Members Approve Sale to UNFI

DAYVILLE, Conn.--On Sept. 28, members of Blooming Prairie Cooperative approved a proposal to sell the cooperative to United Natural Foods Inc. (UNFI) (NASDAQ:UNFI). The sale was approved with a vote of 73 percent; 60 percent had been needed for the motion to pass. Terms of the purchase agreement were not released, but it is reported that the cooperative will receive 100 percent of its equity and investment in the co-op. No immediate changes in service or operations are expected, and UNFI (www.unfi.com) is expected to retain all of the co-op's current employees.

A second resolution--to establish a Blooming Prairie Foundation from the proceeds of the sale--was also approved. The purpose of the nonprofit foundation is to continue Blooming Prairie's (www.bcco-op.com) work in supporting developmental, research and educational efforts in the organic industry and the cooperative community. Potential projects include supporting the Organic Trade Association, genetically modified (GM) labeling initiatives and research for sustainable agriculture on family farms. In addition, Blooming Prairie plans to support existing cooperative information and training programs, such as Co-op Grocer magazine, Co-op Grocers Information Network and regional cooperative grocers associations. The foundation will also take ownership of the co-op label. The foundation's board of directors would be drawn from the Blooming Prairie board.

On Oct. 4, UNFI added to its board of directors Gail Graham--formerly vice chair of Blooming Prairie's board of directors. This brings UNFI's board up to eight members.