FW: (US) Whole Foods to buy Wild Oats Markets for $565 million

[Guest guest]

Courtesy of Veggie Jews.

 

By Josh Fineman

Bloomberg News

Published February 21, 2007, 4:13 PM CST

 

Whole Foods Market Inc., the largest U.S. natural-foods grocer, agreed

to buy Wild Oats Markets Inc. for $565 million in cash, swallowing its

largest rival.

 

Investors will get $18.50 for each Wild Oats share, Whole Foods said

in a statement today. That's 18 percent higher than Wild Oats' share

price of $15.72 today. Whole Foods will also assume $106 million of

debt.

 

The purchase will boost Whole Foods' growth by giving it 110

additional stores. The company's sales gains at stores open at least a

year slowed to 7 percent in the first quarter from 12 percent a year

earlier. Whole Foods said it plans to close some locations after the

merger.

 

FULL STORY:

http://www.chicagot ribune.com/ business/ chi-070221wholef oods-

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