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September 5, 2007

Wild Oats to close in Portland

The Wild Oats supermarket in Portland will close within 90 days because a competitor has purchased the chain.

Whole Foods Market, the world's largest natural and organic food store chain, was cleared by an appeals court in late August to complete its $595 million purchase of its Colorado-based rival, Wild Oats, according to the Portland Press Herald. Whole Foods, which is headquartered in Texas, operates a store in Portland just blocks from Wild Oats.

Whole Foods in Portland will offer jobs to the 86 Wild Oats employees who will be displaced by the closing, the paper said. The company also is considering opening another Whole Foods in the Portland area in the next two years. Whole Foods predicts that the Wild Oats chain purchase will increase revenue at Whole Foods' stores by up to 90%.

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