BOULDER – The co-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 across the Front Range.
The Daily Camera reports that 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. Financial terms of the private deal, including price and amount of shares sold, were not disclosed.
While owning a building seems like something every successful business should do, that’s not always the case. For many companies, it makes more sense to continue leasing space, freeing up time and capital that can be better utilized in other ways.
Founded in 1979 as Pearl Street Market, Alfalfa’s was an early natural and organic grocery. Growth forced it to move to 1651 Broadway in 1983, bringing along a name change. By 1996, it had grown to 11 locations and was acquired by Boulder’s Wild Oats, only to be divested when Whole Foods purchased Wild Oats in 2007. Retzloff and Feinblum bought the store on Broadway and restarted Alfalfa’s in 2011.