New Frontiers sells to Whole Foods
April 1, 2014
New Frontiers Natural Marketplace has sold four of its five stores, including its San Luis Obispo location, to Whole Foods Market. [Supermarket News]
Each of the stores sold will convert to Whole Foods markets in a few weeks. As part of the transaction, Whole Foods agreed to offer jobs to all of the employees at the New Frontiers locations that the company purchased.
New Frontiers President Jonathan King said he had long considered merging with Whole Foods.
“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,” King said. “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.”
Whole Foods acquired New Frontiers’s three Arizona locations, in addition to the San Luis Obispo store. The lone remaining New Frontiers market is located in Solvang, where the company headquarters sit.