Wednesday, February 21, 2007

Whole Foods buys Wild Oats

Something's gotta give. Either the plans for the controversial Whole Foods Market on the northside will be scrapped or the existing Wild Oats Market in Nora will close.

Earlier today, Whole Foods Market and Wild Oats Markets announced that they'd merge.

The agreement says Whole Foods Market, the largest U.S. natural-foods grocer, will acquire Wild Oats Markets’ outstanding common stock in a cash tender offer of $18.50 per share, or approximately $565 million based on fully diluted shares.

Whole Foods, with 191 existing stores, has annual sales of approximately $5.6 billion, and Wild Oats, with 110 stores, has annual sales of about $1.2 billion.

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