AUSTIN, Texas, March 31, 2014 – New Frontiers Natural Marketplace and Whole Foods Market, Inc. (NASDAQ: WFM) announced today that Whole Foods Market will purchase four stores from New Frontiers. The stores average 22,000 square feet in size and are located in Flagstaff, Prescott and Sedona, Ariz., and San Luis Obispo, Calif.
The two companies expect the transaction to be finalized in the next few weeks. The stores will continue to operate under the New Frontiers Natural Marketplace banner until they are re-signed as Whole Foods Market stores.
“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 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.
As part of the agreement, Whole Foods Market will offer jobs to the team members at the four acquired locations.
“We want to extend our heartfelt appreciation to the wonderful team members in the four locations who have provided extraordinary service to our loyal shoppers for so many years,” said Jonathan King. “We also want to express our gratitude for the customers who have embraced New Frontiers as their trusted grocer. We are confident Patrick and his Whole Foods Market teams will continue to take great care of everyone.”
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