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Whole Foods Market receives $425 million from Leonard Green
0 Comments | Deseret News (Salt Lake City), Nov 6, 2008 | by Bloomberg News
Whole Foods Market Inc., the largest natural-foods grocer, received a $425 million equity investment from Leonard Green & Partners LP after reporting its eighth straight drop in profit and lowering its 2009 sales forecast.
The shares surged 22 percent in late Nasdaq trading after the retailer, based in Austin, Texas, said it will sell preferred stock equal to a 17 percent stake in the company.
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Net income fell to $1.5 million, from $33.9 million a year earlier, the company said Wednesday. Sales in the three months through September climbed 13 percent to $1.79 billion from $1.74 billion. The retailer rose $2.24 to $12.55 after the close of the Nasdaq Stock Market.
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