UNFI cuts margin on $371M term loan

United Natural Foods, Inc. amended its existing Term Loan Agreement on June 18, 2026.

Rhea-AI Filing Summary

United Natural Foods, Inc. amended its existing Term Loan Agreement on June 18, 2026. The company and its co-borrowers repriced approximately $371 million of outstanding term loans, cutting the interest margin over the secured overnight financing rate (SOFR) from 4.75% to 4.00%. All other material terms of the term loan remain in effect, so the change is focused on lowering borrowing costs under the current facility.

Insights

Credit and capital structure analyst

UNFI modestly lowers borrowing costs by repricing a large term loan.

United Natural Foods amended its Term Loan Agreement to reprice about $371 million of outstanding term debt. The applicable margin over SOFR falls from 4.75% to 4.00%, directly reducing the interest rate applied to this borrowing.

This change affects an existing facility rather than adding new debt, so leverage levels are unchanged in the excerpt. The benefit comes from lower interest expense on the same principal, which can support cash flow and earnings over time if other factors remain stable.

The amendment is effective as of June 18, 2026, with all other material terms of the Term Loan Agreement staying in place. Future company filings may quantify the resulting interest expense reduction as results for periods after this date are reported.

8-K Event Classification

2 items: 1.01, 2.03

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Key Figures

Outstanding term loan repriced: $371 million Old SOFR margin: 4.75% New SOFR margin: 4.00% +1 more

4 metrics

Outstanding term loan repriced $371 million Approximate principal affected by June 18, 2026 amendment

Old SOFR margin 4.75% Previous applicable margin over SOFR on term loan

New SOFR margin 4.00% Reduced applicable margin over SOFR after repricing

Amendment effective date June 18, 2026 Date Borrowers entered Amendment No. 5 to Term Loan Agreement

Key Terms

Material Definitive Agreement, Term Loan Agreement, secured overnight financing rate (SOFR), administrative agent and collateral agent, +1 more

5 terms

Material Definitive Agreement regulatory

"Item 1.01 Entry into a Material Definitive Agreement."

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

Term Loan Agreement financial

"entered into Amendment No. 5 to the Term Loan Agreement"

A term loan agreement is a formal contract in which a borrower receives a fixed amount of money from a lender and agrees to repay it over a set period with interest, much like a mortgage or car loan for a business. It matters to investors because the scheduled repayments, interest cost and any lender-imposed rules affect a company’s cash flow, financial flexibility and creditworthiness, which can change risk and share value.

secured overnight financing rate (SOFR) financial

"reducing the applicable margin over the secured overnight financing rate (SOFR)"

A secured overnight financing rate (SOFR) is the interest rate on very short, one‑day loans that are backed by high‑quality collateral (like government bonds), so lenders face less risk. Investors care because SOFR is a widely used benchmark that sets the cost of borrowing and the pricing of loans, bonds and derivatives; think of it as a trusted yardstick for short‑term interest costs that influences returns and valuations across markets.

administrative agent and collateral agent financial

"JPMorgan Chase Bank, N.A., as administrative agent and collateral agent"

off-Balance Sheet Arrangement regulatory

"an Obligation under Off-Balance Sheet Arrangement of a Registrant."

An off-balance sheet arrangement is a financial commitment or asset that a company keeps out of its main financial statements so it does not show up as a direct asset or liability. Think of it like renting equipment or using a separate storage locker instead of putting the item in your home: the economic effects exist, but they aren’t listed on the company’s primary balance sheet. Investors care because these arrangements can hide risks, obligations or sources of cash flow that affect a company’s true financial strength and future performance.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did UNFI change in its term loan agreement on June 18, 2026?

UNFI amended its Term Loan Agreement to reprice about $371 million of outstanding term loans, reducing the interest margin over SOFR from 4.75% to 4.00%. All other material terms of the facility remain unchanged.

How large is the United Natural Foods (UNFI) term loan affected by this amendment?

The amendment applies to approximately $371 million of outstanding term loan debt. This principal amount stays the same; the key change is the lower margin over SOFR, which should reduce interest costs on this portion of UNFI’s borrowings going forward.

Which parties are involved in UNFI’s June 2026 term loan amendment?

The amendment involves United Natural Foods, Inc., SUPERVALU INC., UNFI Wholesale, Inc., UNFI Distribution Company, LLC, various lender institutions, and JPMorgan Chase Bank, N.A. acting as administrative agent and collateral agent under the Term Loan Agreement.

Did UNFI change any other major terms of its Term Loan Agreement?

According to the disclosure, all other material terms of the Term Loan Agreement remain unchanged and in full force and effect. The amendment primarily focuses on repricing the outstanding term loan by reducing the applicable margin over SOFR for the existing facility.

How will the UNFI term loan amendment be formally documented for investors?

UNFI states that the full Term Loan Amendment will be filed as an exhibit to its Annual Report on Form 10-K for the year ended August 1, 2026. The current disclosure provides a summary, with complete details to appear in that future filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/22/2026 - 08:01 AM Learn about SEC filing dates

0001020859FALSE00010208592026-06-182026-06-18

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 18, 2026

UNITED NATURAL FOODS, INC.
(Exact name of registrant as specified in its charter)
Delaware (State or other jurisdiction of incorporation)			001-15723 (Commission File Number)			05-0376157 (IRS Employer Identification No.)
15 Park Row West, Suite 302, Providence, RI 02903
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (401) 528-8634

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common stock, par value $0.01			UNFI			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01    Entry into a Material Definitive Agreement.

On June 18, 2026, United Natural Foods, Inc. (the “Company”), SUPERVALU INC., UNFI Wholesale, Inc., and UNFI Distribution Company, LLC (the “Co-Borrowers” and, together with the Company, the “Borrowers”), the guarantors party thereto, the certain financial institutions that are parties thereto as lenders, and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent (the “Agent”), entered into Amendment No. 5 to the Term Loan Agreement (the “Term Loan Amendment”), amending the Term Loan Agreement dated as of October 22, 2018, as amended from time to time (as further amended, the “Term Loan Agreement”), among the Borrowers, the guarantors party thereto, the lenders from time to time party thereto and the Agent.

The Term Loan Amendment, among other changes, reprices the Borrowers’ approximately $371 million outstanding term loan, reducing the applicable margin over the secured overnight financing rate (SOFR) from 4.75% to 4.00%.

Except as described above, all of the other material terms of the Term Loan Agreement remain unchanged and in full force and effect. The foregoing description of the Term Loan Amendment in this Form 8-K is only a summary and does not purport to be complete and is qualified in its entirety by reference to the Term Loan Amendment, a copy of which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended August 1, 2026.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 above is hereby incorporated by reference into this Item 2.03.

SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

UNITED NATURAL FOODS, INC.
By:			/s/ GIORGIO MATTEO TARDITI
Name:			Giorgio Matteo Tarditi
Title:			President and Chief Financial Officer

Date:    June 22, 2026

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.3 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.8 KB