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Whole Foods acquires Wild Oats

This article was originally published in The Tan Sheet

Executive Summary

Whole Foods completes its $565 mil. purchase of Wild Oats Markets, assuming debt of approximately $137 mil., the firm announces Aug. 28. The company initially purchased 84.1% of the firm's outstanding common share in a cash tender offer and will acquire as delivered approximately 12.7% of outstanding share of the firm's common stock. Whole Foods has entered into a five-year, $700 mil. senior term loan agreement to fund the transaction, and has signed a new revolving credit agreement. The companies announced plans for the merger in February, but the transaction was delayed when the Federal Trade Commission filed a complaint against the deal in June, concerned it would result in higher prices and reduced quality and services in the natural and organic foods retail market ("The Tan Sheet" June 11, 2007, In Brief)...

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