<<<<Wild Oats Buys 11 Stores From Two Companies
Wild Oats Markets Inc. announced that it has purchased 11 stores in two separate transactions. Wild Oats will buy General Nutrition Cos.' six-store natural grocery unit, Nature's Northwest, for $57 million. The Nature's stores are in Portland, Ore., and Vancouver, Wash., and will continue to operate under their current names, Nature's Fresh Northwest, Nature's Marketplace and Nature's Northwest. The purchase also includes two new Nature's stores expected to be completed by the end of 1999, and one relocation.
The other three new markets will come from a purchase from United Natural Foods Inc. of Dayville, Conn. Wild Oats will pay $6.5 million in cash for the stores in Westport and Hartford, Conn., and Melbourne, Fla., which operate under the names Food for Thought, Cheese and Stuff, and Natureworks.
Wild Oats' CEO Mike Gilliland said the acquisitions will add $100 million in new revenue in 2000. The company also is planning to open 17 more of its own stores this year and next, and relocate three others. >>>>>
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