Shares of United Natural Food Inc. (NASDAQ:UNFI), the leader in healthy foods distribution to North American supermarkets, declined during the third quarter due to a contract loss representing 5% of sales that occurred after a change in ownership with a specific customer. We view United Natural’s leading scale, national coverage and high service levels as key competitive advantages. It has a strong supply chain infrastructure in the industry, and we think it is well positioned for share gains over the next several years. (Matthew Weiss)
From Baron Growth Fund's third quarter 2015 letter.
