Whole Foods Market Inc. has agreed to acquire Wild Oats Market for $18.50 per share or about $565 million. Wild Oats, with revenues of $1.2 billion, currently operates 110 stores in 24 states. The company has only a handful of stores in the L.A. area. Whole Foods, based in Austin, Tex., operates seven stores in the greater Valley region. The company said the acquisition would provide it entry into “a significant number of new markets” and give it “critical mass” in three of its smallest operating regions. The company said some Wild Oats store closures are expected and some may be relocated. The deal is subject to customary regulatory approvals and is expected to close in April.
