Transaction highlights:
o whole foods market acquires wild oats markets existing net debt amounting to approximately $106 million as at 30 September 2006 reported.o whole foods market offers $18.50 per share in bar, a 23% premium to the average closing price of a month.
o transaction value, including debt, will be expected to $700 million.
o transaction at the closing rate with $700 million of senior term loan; financedintends to whole foods market to upsize of your revolving long-term senior credit facility to $ 250 million in connection with the transaction.
o all of whole foods market's stores, with three of its smallest regions, critical mass, 11 operational regions to win and whole foods market a significant number of new markets immediate entry into force
o expected whole foods market significant synergies through savings in G & A greater purchasing power, increased utilization of support facilities and new team member recognize talent.
With annual sales of around 1.2 billion $ wild oats markets is one of the leading retailer of natural and organic food in Nordamerika.Wild Oats was founded in 1987 in Boulder, Colorado and listed on the NASDAQ national market in 1996. The company operates currently 110 shops in 24 States and British Columbia under four banner: wild oats marketplace (nationwide), Henry's farmers market (Southern California), Sun harvest (Texas) and capers Community market (British Columbia).
"Wild oats markets and whole foods market both large and positive impact on the natural and organic food movement in the United States, helping lead the industry had to nationwide acceptance and one of the fastest growing retail today segments in the food", said John Mackey, Chairman, Chief Executive Officer and co-founder of whole foods market. "Have a similar mission and core values our company and we believe create synergies, the long-term value from this combination for our customers, suppliers and shareholders and exciting opportunities for our new and existing team members."
"" The growth opportunity in this category led to increased competition from many players, most of which are dedicated to not natural and organic food supermarkets, but are much greater than we are, "said Mr. Mackey."We have 18 retail acquisitions in our history, acquisitions were made by the many platform from which we have been geographically able to accelerate our growth. Wild oats markets are our largest acquisition and is a large geographic fit, and three of our smallest regions - our Pacific Northwest as all our 11 operational regions receive stores Rocky Mountain and Florida will win critical mass regions-."We are also immediately access in a significant number of new markets."
"We consider integrating acquisitions a core competency and we found, it takes typically up to two years for the transition to our decentralized operations and our incentive programs to implement."We expect that this acquisition be similar and recognize significant synergies through G & A in the course of time cost reduction, greater purchasing power and improved utilization of equipment.We look forward to win many talented team members that our growth target of $12 billion in 2010 sales will offer valuable support.Continue at a rapid pace to develop our business, "continued Mr. Mackey.""We have always through learning from past acquisitions benefits and believe, cause this merger in a company that is much stronger and better for the future."
"As the natural and organic food industry continue to receive attention from more conventional players, the timing for our two companies join forces could not be better", said Gregory Mays, Chairman and CEO of wild oats markets."We believe this strategy is in the best interests of our stakeholders and our Board of Directors has unanimously recommended that wild oats markets shareholders their shares in this offer call."
Whole foods market will evaluate each banner, as well as any business to see as it in the entire brand and real estate strategy passt.Wild Oats markets its basic store were rationalization in recent years, shedding underperforming stores, but some additional store closures are as well as the shift expected some shops where overlap with shops that whole foods market currently in development.Whole foods market expected significant investments into the shops before finally final stage transformation you stores like whole foods market.
Whole foods market has to begin a public offer of the merger agreement February 27, 2007 vereinbart.Das is tender offer for all outstanding shares of wild oats markets at least a majority outstanding wild oats markets shares tendered is, as well as regulatory and other customary closing conditions bedingt.Wild Oats markets' Board of Directors has unanimously recommended that wild oats markets shareholders their shares in the offer Ausschreibung.Die Yucaipa Companies, wild oats markets largest shareholder with about 18% ownership is committed tendering shareholders not is his Aktien.Genehmigung of transaction of whole foods market erforderlich.Das runs takeover bid for 30 days, subject to extension and foods market expected to receipt of the usual regulatory Genehmigungen.Whole currently to close the transaction in April.
RBC capital markets has a fairness opinion to its Board of Directors and serves as financial advisor to whole foods market in connection with the acquisition gerendert.RBC serves also as dealer manager for the proposed Übernahmeangebot.RBC capital markets and JPMorgan co will lead help of debt financing and JPMorgan, as administrative agent for the senior credit facility, whole foods market finding an amendment to upsize of Kreditfazilität.Citigroup corporate capital markets and investment banking serves as financial advisor to wild oats markets.
Whole foods market, today announced, in a separate release of its financial results for the first Quartals.Das company will host a conference call today to discuss these announcements at 4: 00 pm CT.Das dial in number is 1-800-896-8445 and the Conference ID "Whole Foods."A simultaneous audio webcast will be available at the www.wholefoodsmarket.com.
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