another transnational merger w/ an organic feel?!

The very stores at which I so enjoy purchasing my organic food, supporting fair-trade, and the philosophies and politics of free-range food is now merging–with one another!  What meaning does this have with respect to natural markets, transnational mergers, and capitalism?  Is this the future of organic food markets?  Doing away with the choices and becoming one?  What about my nature food store up the street from me?

The news post from the Austin American Statesman follows:

Whole Foods merging with Wild Oats, its biggest rival
Wednesday, February 21, 2007, 03:12 PM
A news release from Whole Foods Market Inc.

Whole Foods Market, Inc. (NASDAQ: WFMI) and Wild Oats Markets (NASDAQ: OATS) have today announced they have signed a definitive merger agreement under which Whole Foods Market will acquire Wild Oats Markets’ outstanding common stock in a cash tender offer of $18.50 per share, or approximately $565 million based on fully diluted shares. Whole Foods Market will also assume Wild Oats Markets’ existing net debt totaling approximately $106 million as reported on September 30, 2006.

Transaction Highlights: o Whole Foods Market offers $18.50 per share in cash, a 23% premium to the one-month average closing price o Transaction enterprise value, including debt, is expected to be approximately $700 million o Transaction to be funded at closing with $700 million of senior term loans; in conjunction with the transaction, Whole Foods Market also intends to upsize its long-term senior revolving credit facility to $250 million o All of Whole Foods Market’s 11 operating regions will gain stores, with three of its smallest regions gaining critical mass, and Whole Foods Market will gain immediate entry into a significant number of new markets o Whole Foods Market expects to recognize significant synergies through G&A cost reductions, greater purchasing power, increased utilization of support facilities and new team member talent.

With annual sales of approximately $1.2 billion, Wild Oats Markets is one of the leading natural and organic foods retailers in North America. Wild Oats was founded in Boulder, Colorado in 1987 and listed on the NASDAQ National Market in 1996. The Company currently operates 110 stores in 24 states and British Columbia, Canada under four banners: 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 have both had a large and positive impact on the natural and organic foods movement throughout the United States, helping lead the industry to nationwide acceptance and to becoming one of the fastest growing segments in food retailing today,” said John Mackey, chairman, chief executive officer, and co-founder of Whole Foods Market. “Our companies have similar missions and core values, and we believe the synergies gained from this combination will create long-term value for our customers, vendors and shareholders as well as exciting opportunities for our new and existing team members.”

“The growth opportunity in this category has led to increased competition from many players, most of whom are not dedicated natural and organic foods supermarkets, but are considerably larger than we are,” said Mr. Mackey. “We have made 18 retail acquisitions in our history, many of which were platform acquisitions from which we have been able to accelerate our growth geographically. Wild Oats Markets will be our largest acquisition and is a great geographical fit as all of our 11 operating regions will gain stores and three of our smallest regions – our Pacific Northwest, Rocky Mountain and Florida regions – will gain critical mass. We will also gain immediate access into a significant number of new markets.”

“We consider the integration of acquisitions to be a core competency and have found it generally takes up to two years to transition to our decentralized operations and implement our incentive programs. We expect this acquisition to be similar and that over time we will recognize significant synergies through G&A cost reductions, greater purchasing power and increased utilization of facilities. We are particularly excited to gain many talented team members who will provide valuable support in reaching our growth goal of $12 billion in sales in 2010. Our company continues to evolve at a rapid pace,” Mr. Mackey continued. “We have always benefited through learning from past acquisitions and believe this merger will result in a company that is much stronger and better-positioned for the future.”

“As the natural and organic foods industry continues to receive attention from larger conventional players, the timing for our two companies to join forces could not be better,” said Gregory Mays, Chairman and CEO of Wild Oats Markets. “We believe this strategy is in the best interest of our stakeholders, and our board of directors has unanimously recommended that Wild Oats Markets’ stockholders tender their shares in this offer.”

Whole Foods Market will be evaluating each banner as well as each store to see how it fits into its overall brand and real estate strategy. Wild Oats Markets has been rationalizing its store base over the last several years to shed underperforming stores, but some additional store closures are expected as well as the relocation of some stores that overlap with stores Whole Foods Market currently has in development. Whole Foods Market expects to make significant investments in remodeling stores before eventually re-branding them as Whole Foods Market stores.

Whole Foods Market has agreed in the merger agreement to commence a tender offer on February 27, 2007 for all of Wild Oats Markets’ outstanding common stock. The tender offer is conditioned upon at least a majority of the outstanding Wild Oats Markets’ shares being tendered, as well as customary regulatory and other closing conditions. Wild Oats Markets’ board of directors has unanimously recommended that Wild Oats Markets’ stockholders tender their shares in the offer. The Yucaipa Companies, Wild Oats Markets’ largest shareholder with approximately 18% ownership, has committed to tendering its shares. Approval of the transaction by Whole Foods Market shareholders is not required. The tender offer will expire within 30 days, subject to extension and to the receipt of customary regulatory approvals. Whole Foods Market currently expects to close the transaction in April.

day of ashes

Today many religious folks within the Christian faith are celebrating Ash Wednesday, a day that is set aside marking the beginning of Lent and a day to pause to remember our humanity and sinful ways.  There is one particular ritual that sets this day a part from other religious days: the imposition of ashes. 

“From dust you have come, and to dust you shall return.”

These are words are uttered as the ashes are imposed upon the forehead of the one requesting the ashes.  This has never been part of my tradition, which is baptist [Baptist/baptist/Anabaptist].  I grew up in Texas where my early life of faith was formed by Southern Baptists and then latter in college by quasi-American Baptists and the left-leaning Texas Baptists.  My liturgical calendar was not quite formed!

I attended graduate school on the campus of a United Methodist Seminary/Northwestern University where I was the witness of many rituals, including these Ashes rituals.  Later, while writing my Master’s thesis in Theological Ethics and then following graduate work , I was a chaplain at a hospital where I was the imposer of ashes to Protestants and Catholics!  Not being something that normally or historical practiced [or a ritual that formed me], I became a performer of this ritual to those who requested it.  It was I–me–low church, social justicey me– that uttered “from dust you came and to dust you shall return.”

I’m no longer working in a Church or in a ministerial capacity, so I hadn’t even thought about Ash Wednesday!  Again, not being part of my tradition, some of the liturgical days surprise me!  As I departed from my express bus in the Chicago Loop this morning, amidst the hussle and bussle of commuters, taxis, students, and others, I crossed the street just as it was turning Red.  I hurried.  I made it.  I needed to cross one more street so that I could enter my building.  And there, as I crossed underneath the L tracks, my eyes met a middle-aged, white-looking, man bearing the sign of the cross.  On his way to what appeared to be work in his suit, our eyes met as we crossed over Lake Street, and locked.  It was 7:45.  Ashes were imposed; this began his day and it began mine in a different way.  I was a witness to his conviction.  I witness the cross!

You see, when I think about my identity as Christian, I don’t immediately think about my sins.  I recognize that theologians and some our places of community are privileging the conversations regarding social justice moreso now than the “dirty” language of our sinfulness, but perhaps talking about and processing our own “sins” is necessary in achieving a social justice mind?!

When I think about my identity as Feminist, Queer, Chicana, and mixed, I don’t immediately think about my wrongdoings or sin.  I think about how media privileges the masculine experience, how the Religious Right has become the oppressor, and how the U.S. Government continues to masculinze and “white” my world.  I don’t think of these things in theological terms, but per part of my identity as a theologian, perhaps these are sins.  Sins of the other and sins of myself.  I live in this world, am complicit in the governement, am silent when often I need to speak out, am loud when often I need to practice the discipline of wisdom, and am ashamed when I simply need to be proud.

Perhaps when my path crossed this middle-aged, white-looking, man bearing the sign of the cross, my day was queeryied–became queer with the witness of one following the wya of Jesus.  No longer was I [nor the masses] crucified by massive injustice.  No, rather, I was reminded of my ongoing journey…a wandering nomad who oftentimes is struck and empowered by the signs and symbols others bear.

Perhaps today you will give witness to something greater–something queer?  Perhaps I will too!

And yes, from ashes I have come and to ashes I will go…returning to Jesus?  The world that will envelop me?  I don’t know those answers.  For now, I will continue to embody [radical] feminist moves against destructiveness and follow the One who was radical himself and wise in all matters.