Canada’s Planet Organic Health has revealed that its deal to buy US natural products retailer Mrs Green’s Natural Market will close at the end of the month.
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Planet Organic, which produces a range of natural foods, agreed to buy Mrs Green’s in March. The company, which runs eight natural food outlets in Canada, said it would tie up the acquisition by 31 May.
“At this point, we are wrapping up the purchase agreement and audit,” said Planet Organic vice president and CFO Darren Krissie yesterday (14 May).
Planet Organic hopes the acquisition of Mrs Green’s, which operates 11 stores in the New York and Connecticut area, will help to expand its business in the US.
Last year, Mrs Green’s generated profits of US$4.8m on the back of $38.1m in revenues.
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