Whole Foods to Buy Wild Oats

By Richard Martin, 2-21-07

Wednesday afternoon Whole Foods Market Inc. said it will purchase Boulder-based Wild Oats Markets Inc. for $565 million, ending the death-match struggle between the two natural-foods emporia. Based in Austin, Tex., Whole Foods has been a business phenomenon over the last half-decade as Americans of all classes discovered the benefits of zucchini corn cakes, two-buck-a-bottle natural sodas, and freshly made sushi from "Whole Paycheck." Wild Oats, meanwhile, has struggled to keep up, closing several stores and seeing its same-store sales flatten. Even as Whole Foods doubled its profits, Wild Oats lost money in two of the past five years. Both grocers have faced stiffer competition from traditional markets, like Safeway, that have delved into the natural-foods trends, as well as California-based Trader Joe's.

The sale marks the end of the line as an independent entity for one of Boulder's most successful corporations.
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