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UPDATE 1-Whole Foods closing 9 stores from Wild Oats deal

Tue Oct 2, 2007 2:50pm EDT
 
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LOS ANGELES, Oct 2 (Reuters) - Whole Foods Market Inc. (WFMI.O: Quote, Profile, Research) said on Tuesday it planned to close nine of the stores it acquired in the purchase of Wild Oats Markets and will relocate another eight outlets.

The organic and natural foods grocer said the eight relocated stores will be moved to Whole Foods sites in development.

Also on Tuesday, Whole Foods said it completed the sale of all 35 Henry's Farmers Markets and Sun Harvest Markets to a unit of grocer Smart & Final for $166 million. The deal also included a Riverside, California distribution center.

Whole Foods completed its acquisition of smaller rival Wild Oats in August following months of delays as U.S. antitrust authorities tried to block the $565 million deal in court.

Whole Foods said it opened a record 21 stores during the fiscal year ended Sept. 30.

The company's shares were up 99 cents, or 2 percent, at $49.72 in afternoon trade on the New York Stock Exchange. (Reporting by Nichola Groom, editing by Tim Dobbyn)

 

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