Denver, Whole Foods Market Inc. has outlined some of the transitional details to integrate Wild Oats Markets’ operations into its own, according to MorningNewsBeat.com. Whole Foods acquired its rival last week for $565 million.
All Wild Oats corporate personnel will be offered a severance package in the neighborhood of 20% of their annual salary, which will be paid in two installments,” MorningNewsBeat.com reported on its site. Approximately 20 or 30 associates will be offered positions with Whole Foods but not necessarily in Colorado. The rest will be let go and the Wild Oats corporate office in Boulder, CO will be shuttered.
The report also said that Whole Foods will be evaluating each Wild Oats store individually to determine whether or not they will close it or remodel it into a Whole Foods format. They expect to close as many as 35 of the 75 Wild Oats stores nationwide. Stores that will stay open will be remodeled and reset to Whole Foods schematics, MorningNewsBeat.com said.
Each Wild Oats store that stays open will be reset according to Whole Foods schematics and re-opened under the Whole Foods banner, the report said.