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Whole Foods Market will purchase four stores from New Frontiers Natural Marketplace, in Flagstaff, Prescott and Sedona, Ariz., and San Luis Obispo, Calif. The companies expect the transaction to be finalized in the next few weeks.
The stores, which average 22,000 square feet, will continue to operate under the New Frontiers banner until they are re-signed as Whole Foods stores.
"We are excited to expand our presence to new markets in Arizona and Central California, bringing our fresh, delicious and competitively-priced products with the highest quality standards in the business to these vibrant communities," said Patrick Bradley, Whole Foods Market Southern Pacific regional president.
As part of the agreement, Whole Foods will offer jobs to the team members at the four acquired locations. "We want to extend our heartfelt appreciation to the wonderful team members in the four locations who have provided extraordinary service to our loyal shoppers for so many years," said Jonathan King, president of New Frontiers.
Austin, Texas-based Whole Foods Market operates 373 stores in the United States, Canada and the United Kingdom. The company has been ranked for 17 consecutive years as one of the "100 Best Companies to Work For" in America by Fortune magazine.