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Thursday, February 22, 2007

Whole Foods Sews Wild Oats

Whole Food Market will buy Wild Oats Markets for $564 million.  Wild Oats is a chain of natural and organic food markets in Northern America.

The offer came from Whole Food Market after Wild Oats suffered the loss of its CEO and CFO.  It was apparently an opportunistic buy accepted by the interim CEO of Wild Oats.  The stock of Wild Oats had been down graded after the shake up of senior leader ship.  Whole Food Market will acquire 110 stores in 24 states and plans to put them through an upgrade, the purchase and possibly the upgrade will likely be financed with borrowings.  Wild Oats had annual sales of $1.2 billion.