The new has been confirmed, Whole Foods Market revealed Wednesday that the company plans on buying Wild Oats Markets for around $565 million. That’s a couple of pretty pennies, eh?
Whole Foods has been planning to buy the chain of natural & organic markets, with locations in both the U.S. & Canada, for some time, but have finally come to a closing deal.
The news made shares of Wild Oats jump about 17% after the deal was announced. Whole Food execs have said they approached Wild Oats originally after they sensed what they called a “strategic gap” after Wild Oats lost their chief executive & chief financial officer. Whole Foods plans to keep Wild Oats very similar to the original store, with some changes.
I guess I can live with that. We have several Wild Oats locations here in Nashville & it will be interesting to see what happens.