Portland, OR—New Seasons Market and New Leaf Community Markets have entered into a definitive agreement to merge with Good Food Holdings, according to a press release.
The agreement has been approved by New Seasons Market’s Board of Directors, and is expected to close in January 2020. New Seasons and New Leaf will continue to operate independently as certified B Corporations.
The release says that Good Food Holdings supports high quality, independent and regionally focused neighborhood grocers on the West Coast, making it a natural fit for New Seasons and New Leaf.
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New Seasons and New Leaf will adopt the strategy of continuing to grow each brand in and around its home market; specifically, New Seasons will continue serving the broader Portland and SW Washington metro area in Oregon, and New Leaf will serve California’s Central Coast. In keeping with this strategy, Metropolitan Market—another Good Food Holdings brand—will acquire the Mercer Island, Washington location, and will convert the store by mid-2020. The New Seasons Market Ballard, Washington location will close by the end of the year. New Seasons will not open a new location in the Central District of Seattle as originally planned. New Seasons will work with Seattle store staff to help them get jobs in either New Seasons in the Portland area, or with Metropolitan Market in Seattle. Those who choose to work elsewhere will receive job search assistance, transition pay, and extended healthcare benefits.
Forrest Hoffmaster, CEO of New Seasons and New Leaf, said in the release: “We are proud to join Good Food Holdings with a shared commitment to building community through good food. This partnership with Good Food Holdings ensures our longevity as a community cornerstone—one that continues to nourish our neighbors and staff, inspire environmental stewardship and champion the local food economy, as we have done since 2000.” Hoffmaster and the current local leadership team will continue to lead the organization.
Matt Turnbull, Managing Director of Good Food Holdings, added: “We are thrilled to welcome New Seasons Market and New Leaf Community Markets to our family of brands. We’ve long admired New Seasons and New Leaf as industry innovators, and look forward to partnering with their local leadership teams to deliver the best experience for customers, staff and the community.”