The founders of Boulder’s Alfalfa’s Market have sold the natural grocer to two Denver-based investors who plan to revamp the Boulder location and expand in other parts of the state, reports the Daily Camera.
Mark Retzloff and Barney Feinblum sold their majority shares in the company to Mark Homlish, vice president of property management firm Lincoln Property Company, and William “Tripp” Wall, vice president of wealth management company Alliance Bernstein, the Camera reports. Price was not disclosed.
Alfafa’s was founded as the Pearl Street Market in 1979. In 1996, Wild Oats acquired what had become an 11-location operation. It was divested when Whole Foods bought Wild Oats in 2007. The owners restarted Alfaf’s in 2011 and opened a second Boulder store in 2014. Feinblum plans to retire and Retzloff plans to focus on other ventures, a spokesperson said.
“We are pleased with the transition to a new majority shareholder and believe this local, Denver-based investment group is the right investor to help Alfalfa’s move forward,” said Feinblum via an emailed statement to Daily Camera. “As other natural and organic food retail chains get gobbled up by larger companies, Alfalfa’s will continue to serve the needs of our local Colorado communities, and support local farmers and food artisans.”