Within Consumer Staples, the outperformance of United Natural Foods, Inc. (UNFI) the largest distributor of natural and organic products, and The Boston Beer Company, Inc. (SAM), the largest craft brewer in the U.S., added the most value to absolute returns.
United Natural Foods, Inc. (UNFI), the largest distributor of natural, organic, and specialty products to North American supermarkets, delivered another quarter of strong, better-than-expected results that helped push shares to new highs. Sales were up 24% over 2013, boosted by double-digit organic growth and meaningful contribution from a large, recent acquisition that we believe has the potential to double the company’s addressable market opportunity in gourmet perishable foods. (Matt Weiss)
From Ron Baron (Trades, Portfolio)’s Baron Growth Fund Q4 2014 Quarterly Report.
