Whole Foods Market said Monday that it was acquiring four stores from New Frontiers Natural Marketplace.
Whole Foods said it would convert the stores, located in Flagstaff, Prescott and Sedona, Ariz., and San Luis Obispo, Calif., to the Whole Foods banner following finalization of the deal in a few weeks. A purchase price was not disclosed.
The deal includes four of New Frontiers’ five stores, averaging 22,000 square feet each. New Frontiers, based in Solvang, Calif., said it would continue to operate its store in Solvang, as well as an organic farm located there.
"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 part of the agreement, Whole Foods Market will offer jobs to the workers at the four acquired locations.
"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.
New Frontiers was founded in Salt Lake City in 1987. It sold three Utah stores to Wild Oats in 1996. Wild Oats was subsequently acquired by Whole Foods.
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