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Sprouts, Henry’s Farmers Market to merge under Sprouts brand name

Posted: February 17, 2011 1:55 a.m.
Updated: February 17, 2011 1:55 a.m.
 

Sprouts Farmers Market and Henry’s Farmers Market, two companies originally founded by the Boney Family but whom have operated under separate owners for almost a decade, announced Wednesday the two stores will join forces and operate under the Sprouts Farmers Market name.

The transaction is expected to close early in the second quarter 2011. The new company will have 98 stores and more than 7,000 employees at the time the transaction is closed. 

Private equity firm Apollo Management LLP came to an agreement with the specialty grocery retailers to combine operations under the majority ownership of Apollo. The terms of the transaction weren’t disclosed as neither Sprouts nor Henry’s discloses financial information.

“After the combination, Sprouts will be one of the largest, growth oriented specialty retailers in the U.S. with a focus on natural and organic products,” said Andrew S. Jhawar, a senior partner at Apollo.

The combined company plans to open up to 10 additional new stores during 2011.

“Sprouts will be opening stores in Westlake Village, Redondo Beach and Roseville,” said Phi Martini, manager of the Valencia Sprouts store on McBean Parkway.

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