The US Federal Trade Commission has expressed concern about the effect on competition of Whole Foods Markets’ takeover of rival Wild Oats Markets.
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Natural foods grocer Whole Foods said yesterday (9 May) that some members of the FTC have “voiced concerns” over the proposed US$565m deal.
In March, Wild Oats said the FTC had asked for more information on the deal ahead of a possible deeper anti-trust investigation.
The news came as Whole Foods a fall in first-half operating profit due to costs related to the opening of new stores. The company posted profit of $159.6m for the six months to 8 April, down from $173.4m a year earlier. Stripping out those costs, operating profit inched up 1% to $191.6m.
Whole Foods said turnover rose 12% to $3.3bn driven by organic sales growth of 6%. Co-founder John Mackey – also the company’s chairman and CEO – said Whole Foods had opened 15 stores in the last year. The stores, Mackey said, would allow Whole Foods to “redefine the marketplace and further differentiate our shopping experience from other food retailers”.
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By GlobalData
