Whole Paycheck just got Bigger
As our subscribers know, in our "Eat Well" section, along with the restaurants, cafes and farmers markets, we also identify grocers and markets that offer prepared, ready to go foods. The Athletic-Minded Traveler staff often dines at a Whole Foods or Wild Oats when we're home and on the road. We love both. (My salads usually top out at about $14!)
Anyway, today's news announcing that Whole Foods is buying Wild Oats immediately caught my eye. And as a stock owner I was happy to see that shares of both companies are up. The $565 million cash deal is partly an effort by WF to expand its store base and fend off competition from traditional supermarkets--which have upped their organic product lines, e.g., Safeway's "O" line.
Given that there is definite overlap in the management ranks and some infrastructure, the cost cutting will begin shortly after the expected deal close in April. It's expected that once the companies are fully integrated that the Wild Oats name (and its other nameplates: Henry's Farmers Market, Sun Harvest and Capers Community Market) will get the boot.
What we'd like to see is more WF type markets where discriminating eaters can stock up on grocery staples and get a yummy, healthy and reasonably priced meal. If only Trader Joe's had a salad bar...That would be supermarket utopia.