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Whole Foods Reaches Settlement with FTC

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By: Sean Moloughney

Editor, Nutraceuticals World

Whole Foods Market, Inc., reached a settlement agreement in early March, resolving the FTC’s antitrust challenge to its August 2007 acquisition of Wild Oats Markets, Inc. As part of that agreement, Whole Foods must sell the Wild Oats brand. In addition, the retailer must agree to sell 13 functioning stores—most of them Wild Oats stores—as well as 19 Wild Oats outlets that have already been closed. Importantly, Whole Foods reserves the right to retain any one of the 13 stores offered for sale if there is no buyer at the end of one year.

The basis of FTC’s antitrust challenge hinged on the loss of competition in nearly 30 markets. As a result of this settlement, FTC says competition will be restored in 17 geographic markets that were impacted by the Whole Foods/Wild Oats acquisition. “[Now] American consumers will see more choices and lower prices for organic foods,” said FTC chairman Jon Leibowitz. “It allows the FTC to shift resources to other important matters and Whole Foods to move on with its business.”

“We believe it was in the best interests of all our stakeholders to resolve this matter,” said John Mackey, chairman, CEO and co-founder of Whole Foods Market. “It will be business as usual in the 13 operating stores to be marketed for sale…We will be offering team members in stores that are sold the choice of either a guaranteed job offer in another store or an enhanced severance package.”

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