Natural Grocers by Vitamin Cottage on Friday said it was acquiring Independence, Mo.-based natural food retailer Nature’s Pantry. NGVC said it would close the store on Dec. 7 and reopen it under the Natural Grocers banner.
Financial terms of the deal were not disclosed. NGVC said the transaction is expected to be accretive to in fiscal 2015, although it will be immaterial to earnings per share. The Independence store will be included as one of the 18 stores the company expects to open during fiscal year 2015. Natural Grocers currently operates a store in Columbia, Mo.
"We are excited to become part of the Independence community," said Kemper Isely, co-president of Natural Grocers. "In entering this new market, we look forward to continuing Nature's Pantry's mission of empowering customers to make informed health decisions through our nutrition education, high quality standards and affordable prices."
Retail Insights, based in Brattleboro, Vt., advised Nature’s Pantry on the deal. Company president Jay Jacobowitz, commenting on the transaction said, “This acquisition proves that independent natural products retailers are not only viable, but remain the vibrant energy core of the natural products industry, serving consumers newly interested in healthy foods and healthy lives.
“The owners of Nature’s Pantry have worked extremely hard for 20 years, continually reinvesting in their store, paying close attention to customers and taking care of employees,” Jacobowitz continued. “At 17,000 square feet today, Nature’s Pantry is a testament to the amazing success independent natural products retailers can achieve in this dynamic and growing industry of ours.”
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