Founder regaining ownership of Alfalfa?s Market in Boulder

BOULDER — A-M Holdings LLC, the holding company for Alfalfa’s Market, received approval from the Federal Trade Commission to acquire the Whole Foods Market store at 1651 Broadway in Boulder, as well as the Alfalfa’s Market name and intellectual property.

This transaction is the culmination of a several-year negotiation between Whole Foods Market Inc. (Nasdaq: WFMI) and the FTC that required Whole Foods Market to divest certain stores and other assets obtained in the 2007 merger with Wild Oats Markets.

The purchase price and other details relating to this transaction are not being disclosed.

“We are thrilled to bring Alfalfa’s back to our hometown of Boulder in the exact location where it all started,” said Mark Retzloff, co-founder of Alfalfa’s Market. “As Boulderites ourselves, we will be able to directly address the needs of this community with our passion for natural and organic food, and healthcare products. We are working with a team of seasoned foodies, retail and organic industry pros to develop a new, state-of-the-art retail experience while maintaining the local, all-natural and community market feel Alfalfa’s was always known for.”

At the end of July, Alfalfa’s Market will obtain ownership of the store at Broadway and Arapahoe Avenue, which will close for an extensive remodel. The store is expected to re-open as Alfalfa’s Market by the end of 2010.

Founded in Boulder in 1983, Alfalfa’s Market grew to be one of the nation’s leading-edge natural products retailers throughout the 1980s and 1990s. With 11 stores and an iconic reputation for being a community gathering place filled with an infectious passion for natural and organic foods, Alfalfa’s Market was acquired by Wild Oats Markets in 1996.

Now, 14 years later, Retzloff, Barney Feinblum and Hugo van Seenus have resurrected the Alfalfa’s name. Retzoff said the new store will be true to its roots as a Boulder-owned and operated natural foods market. While the store will be modernized, it will retain the same passion, adherence to strict product standards and true community market experience that Alfalfa’s was known for.

After Alfalfa’s merger with Wild Oats, Retzloff went on to become a co-founder of Horizon Organic Dairy. There he served as chairman, chief executive and president. He then became chairman of Rudi’s Organic Bakery where he helped execute a successful turn-around. Most recently, Mark co-founded Aurora Organic Dairy, and currently serves as chairman of the organic dairy products company.

Feinblum currently is a managing director of Greenmont Capital Partners and serves on its investment committee. He is also founder and President of Organic Vintners, an importer of organic wines. Prior to that, he served as president and CEO of Horizon Organic Dairy, and led the company through its initial public offering. Feinblum also spent 17 years at Celestial Seasonings.

van Seenus started as a founding partner of the first two natural and organic food stores in Amsterdam. He moved to the U.S. in 1972 and worked for Erewhon Natural Foods. Erewhon was one of the first vertically integrated companies dedicated to natural foods that contracted with farmers, and managed manufacturing, distribution and retail.

In 1974, Hugo co-founded one of the premier and pioneer natural and organic foods chains, Bread and Circus. Bread and Circus was eventually acquired by Whole Foods Market. Hugo moved to Washington D.C. in 1980 and opened Hugo’s Natural Foods Market, which he owned and successfully operated until the store was sold in 1990. He moved to Santa Barbara, Calif. and co-founded Lazy Acres Market in 1990.

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