Canadian Retailer Buys Organic Chain

EDMONTON, Alberta—Planet Organic, which operates eight natural supermarkets and 57 natural health outlets throughout Canada, closed its deal to buy Mrs. Green’s Natural Markets, a Scarsdale, N.Y.-based chain with 12 stores in upstate New York and Connecticut.

“We set our sights on entering the U.S. market by 2008, and we achieved it,” said Darren Krissie, vice president and CFO of Planet Organic, calling Mrs. Green’s a quality-run chain with solid revenues and EBITDA. He added Planet Organic will continue its expansion via new store development and further acquisitions.

Harold and June Hochberger, founders and former owners of Mrs. Green’s, will remain with the company to assist Planet Organic’s U.S. growth plans. “This is not only a strategic move for Mrs. Green’s Natural Market, but for our staff as well,” they said. “This will provide our employees with the opportunity to grow within a larger organization.”