Leonard Green & Partners
by John Mackey, November 7, 2008 | Permalink
I’m really excited to announce that Leonard Green & Partners has invested $425 million in Whole Foods Market (a 17% percent ownership). We are pleased that Leonard Green, one of the most experienced and successful investors in the retail industry, has decided to make such a significant investment in our company. We view this as a strong vote of confidence in our business model and our long-term growth prospects, despite the tough current economic environment. This equity infusion, combined with our strong cash flow from operations, gives us the financial flexibility to manage through these difficult times while continuing to prudently invest in our long-term growth as we remain committed to our mission and core values. For my further thoughts, check out this video.
Categories: investors
5 Responses to “Leonard Green & Partners”
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November 11th, 2008 at 6:55 pm
Retail is just badly suited to being publicly traded unless you are of a size and scale where you can leverage that into shareholder value. That said, I hope that this cash infusion is enough to take care of WFM over the term. Reducing waste, improving the quality of management at the store level, and driving a much harder bargain with vendors that still demand too much money for their products are good ways to turn the arrows around and position WFM to be a stronger, better run competitor in this amazingly competitive sector.
November 24th, 2008 at 9:36 pm
Well, that’s good news. I am hopeful that your company can expand to the Grandville, Michigan area one day in the future. You’ve got a ton of future shoppers just waiting for the opportunity to part with their hard-earned cash in these parts.
November 30th, 2008 at 4:48 am
Dear
Mr. Mackey, you come up as a straightforward person, I really think that this action is a positive step towards a better 2009. This kind of action, is not an easy one, thus my fully appreciation to you and the other members of the management team. I leave in Israel, but overwhelmed on a daily basis by WFM, and its ability to present a different approach to the retail market. You were, and still are the pioneers of this niche. TO be honest I was really concerned for the company’s future facing this terrible economic situation we are all experiencing, but this last action with Green is very wise thing of you to do. Thanks to that WFM has great chance to go through the economic storm, and thrive.
Personally, every visit in the states is accompanied with a visit in WFM.
All the Best,
Tsadi
December 14th, 2008 at 10:58 am
Mr. Mackey,
This is indeed extremely exciting!! I know an investment of that magnitude is not just a sign of faith, but a definite understanding of Whole Foods’ importance. I just had my first Whole Foods experience in your newest store here in Jacksonville yesterday. Amazing!! It was a pleasure to ALL my senses. Although Jacksonville is having some difficult economic times like most of the country, I think choosing and purchasing food mindfully is always a wise investment. Yes, quality can cost a little more sometimes, but the benefits outweigh those costs, especially when it comes to healthcare down the road. After making the decision yesterday that I would definitely return to Whole Foods on a regular basis, I was so pleased to find this blog today and learn of this investment, which will hopefully help Whole Foods stay and GROW in the Jacksonville area.
I would like to also thank you for maintaining a blog as it truly communicates your passion for the mission of Whole Foods and your understandable need to maintain a connection with the customers and community. I am WHOLE-heartedly impressed.
Thank you!!!!
January 30th, 2009 at 6:24 pm
Mr. Mackey,
I am delighted about the good news, especially in our bleak economy. Someone is willing to invest money in something as fabulous as Whole Foods!YES!
My husband and I travel frequently to Tulsa, Oklahoma, to shop. A feeling of health, happiness, and balance envelopes me when I enter the store. My husband and I were raised in Europe on whole, nutritionally-rich foods without ‘green No9′, MSG, Splenda, growthhormones and the like. Please consider opening a Whole Foods Market in Oklahoma City. SOON.
I am sending you a ‘verbal hug’!
Take care.
Dagmar and family (cats included)