Arizona, California—Arizona-based Sprouts Farmer’s Market and Henry’s Farmer’s Market, headquartered in California, are teaming up to prove that two heads are better than one. Both companies were founded by the same family at different periods in time, and have operated under different owners ever since. In February, they announced they are combining with support from its new owner Apollo Management, L.P., a private equity firm. The founding family, the Boney’s, will manage the company in terms of operations.
With a combined $1 billion in revenue, the stores believe the merger will help them offer shoppers better prices and an even better and more varied selection of fresh products.
Until the closing of the merger, which will also include the Henry’s stores operating as Sun Harvest Farmers Markets in Texas, the stores will continue to be separate and distinct entities. The merge will take place gradually beginning towards the latter half of 2011, and continuing into 2012. The chains will function under the name Sprouts Farmers Market and will have 98 more stores and more than 7,000 employees by the time they fully merge.
The Boney family has founded several other grocery store chains including Bradshaw’s, Windmill Farms and Speedee Mart.
Published in WholeFoods Magazine April 2011 (online 2/24/11)