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June 21, 2010

FTC OKs Trader Joe's purchase in Portland

By The Mainebiz News Staff

The Federal Trade Commission on Friday approved retailer Trader Joe's purchase of the former Wild Oats store on Portland's Marginal Way.

The California-based grocery store chain in March filed with the FTC to buy the property, which was a Wild Oats Market Inc. store until 2007, when Whole Foods Market Inc. bought the chain. To avoid a natural-foods monopoly, the FTC required Whole Foods to sell off some of its stores, including the former Wild Oats in Portland. The FTC's approval follows a 30-day public comment period, during which time dozens of people wrote in favor of the project, with the only negative comment from a woman in Augusta wanting the store closer to that city, according to the Portland Press Herald.

Trader Joe's in May applied for food service and wine and liquor licenses from the city.  The company also received a permit from the building inspector on June 1 to do $675,000 of interior remodeling and exterior work at the new Marginal Way location, according to city documents. Prime General Contracting of North Kingston, R.I., was listed as the contractor for that project.

Trader Joe's has about 350 stores in 25 states and Washington, D.C. The Portland store would be its first in Maine.

Go to the article from the Portland Press Herald >>

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