UNITED GROCERS CITES PURCHASE FOR DROP IN NET

PORTLAND, Ore. -- United Grocers here reassured its stockholders that a $1.2 million drop in net income in 1996 was part of an investment in the future.previous year.At the annual stockholders' meeting, Alan Jones, United Grocers president and chief executive officer, attributed the decrease in net income to the $21 million purchase of Market Wholesale Grocery, the former wholesale business of Bay

PORTLAND, Ore. -- United Grocers here reassured its stockholders that a $1.2 million drop in net income in 1996 was part of an investment in the future.

previous year.

At the annual stockholders' meeting, Alan Jones, United Grocers president and chief executive officer, attributed the decrease in net income to the $21 million purchase of Market Wholesale Grocery, the former wholesale business of Bay Area Foods, San Rafael, Calif. He also said United Grocers made unprecedente

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