UPDATE: Whole Foods Acquires Four Stores From New Frontiers
New Frontiers Natural Marketplace and Whole Foods Market, Inc. (NASDAQ: WFM) announced today that Whole Foods Market will purchase four stores from New Frontiers. The stores average 22,000 square feet in size and are located in Flagstaff, Prescott and Sedona, Ariz.; and San Luis Obispo, Calif.
Whole Foods Market logo The two companies expect the transaction to be finalized in the next few weeks. The stores will continue to operate under the New Frontiers Natural Marketplace banner until they are re-signed as Whole Foods Market stores.
"Over the years, when I have at times wondered if our stores would someday merge with a larger strategic partner, Whole Foods Market has always been my premier choice," said Jonathan King, president of New Frontiers. "We are very enthusiastic about their ability to take our stores into a successful future. We know they will provide growth opportunities for our exceptional team members, and continue to bring retail excellence and outstanding service to our local communities."
"As New Frontiers has done so well, Whole Foods Market also has a long history of supporting the communities we serve. We are excited to expand our presence to new markets in Arizona and Central California, bringing our fresh, delicious and competitively-priced products with the highest quality standards in the business to these vibrant communities," said Patrick Bradley, Whole Foods Market Southern Pacific regional president.
As part of the agreement, Whole Foods Market will offer jobs to the team members at the four acquired locations.
"We want to extend our heartfelt appreciation to the wonderful team members in the four locations who have provided extraordinary service to our loyal shoppers for so many years," said Jonathan King. "We also want to express our gratitude for the customers who have embraced New Frontiers as their trusted grocer. We are confident Patrick and his Whole Foods Market teams will continue to take great care of everyone."
About New Frontiers Natural Marketplace
New Frontiers began in 1987 when a group of friends opened two small natural foods stores in Salt Lake City. The shared enthusiasm was to create a place in which everyone involved –customers, team members and suppliers– could make positive, healthy changes in their lives. New Frontiers grew to include three stores in northern Arizona as well as two stores and an organic farm on California's Central Coast which serve their communities by offering high-quality, fresh, delicious foods in settings that appeal to a wide range of customers, and through supporting local non-profits through programs like monthly 5% Wednesdays. New Frontiers likes to say its culture is best characterized by the phrase, "New Frontiers, a place where people grow!" One of its fundamental goals has been to create an environment where the company takes extraordinary care of its team members, who in turn share that energy with each customer. The success of this goal is evident in the growth of the company over the years, as well as the numerous customer satisfaction awards the stores have received in their communities.
About Whole Foods Market®
Founded in 1978 in Austin, Texas, Whole Foods Market (wholefoodsmarket.com) is the leading retailer of natural and organic foods and America's first national "Certified Organic" grocer. The company's motto, "Whole Foods, Whole People, Whole Planet"™ captures its mission to ensure customer satisfaction and health, team member excellence and happiness, enhanced shareholder value, community support and environmental stewardship. Thanks to the company's more than 80,000 Team Members, Whole Foods Market has been ranked for 17 consecutive years as one of the "100 Best Companies to Work For" in America by FORTUNE magazine. In fiscal year 2013, the Company had sales of approximately $13 billion and currently has 373 stores in the United States, Canada and the United Kingdom.
Media Contacts: email@example.com - 714-251-0375 Marci.Frumkin@wholefoods.com - 818-581-9029
SOURCE Whole Foods Market
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.