Whole Foods Market, Inc.
WFM today announced an agreement to purchase six leases from
Johnnie's Foodmaster, a family-owned grocery chain based in Chelsea,
Massachusetts. The transaction is expected to close November 30, 2012.
Johnnie's Foodmaster will close all six locations prior to the closing date.
The six leases include South Weymouth, Arlington, Charlestown, Brookline,
Melrose and Somerville and average 31,000 square feet in size. Whole Foods
Market intends to remodel each location, with the goal of reopening all six
stores before the end of its 2013 fiscal year. Whole Foods Market does not
expect the transaction to be material to sales or earnings for fiscal year
2013.
"To have the opportunity to sell to a company like Whole Foods Market has made
a tough decision much easier," said John DeJesus, president of Johnnie's
Foodmaster. "I know that my employees and our loyal customers are in the best
hands, and that the communities will benefit greatly from the product
selection and shopping experience that Whole Foods Market offers."
"We are so pleased that Mr. DeJesus has given us this opportunity at a time
when we are looking to expand our presence in greater Boston," said Laura
Derba, president of Whole Foods Market's North Atlantic region. "Like
Foodmaster, Whole Foods Market has a long history of supporting the
communities we serve, and we are excited to bring our fresh, quality foods at
affordable prices to these six new market areas."
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in