Sprouts to Boost Store Expansion Behind New Financing

Sprouts Farmers Markets said it will accelerate its store growth as the result of raising $22 million in a recent debt offering.

PHOENIX — Sprouts Farmers Markets here said it will accelerate its store growth as the result of raising $22 million in a recent debt offering. The natural foods retailer, which currently operates 25 stores, said its goal is to open 15 or more stores a year and 100 over the next five years. It will open stores this summer and fall in Texas (Murphy, Richardson, McKinney), California (Tustin, Seal Beach) and Colorado (Westminster, Parker, Fort Collins). Sprouts raised more than $22 million through the sale of unsecured senior notes last week. “Due to our strong performance in these challenging economic times, we were able to sell the notes at terms very favorable to our company,” Shon Boney, chief executive officer, said in a statement.

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