New Seasons Market, an organic and natural grocer with 21 stores in Oregon, Washington and Northern California, has been purchased by Good Food Holdings.
The transaction also includes New Leaf Community Markets, which has been owned by New Seasons Market since 2013. New Leaf Community Markets has five locations on the Central Coast of California. Good Food Holdings, which is owned by South Korea-based retailer The Shinsegae Group, also owns Bristol Farms, Lazy Acres Natural Market and Metropolitan Market.
Bristol Farms and Lazy Acres Natural Market operate in Southern California and along the Southern California coast, respectively.
New Seasons Market and Metropolitan Market both serve Seattle, along with other areas. As a result, the Mercer Island, Wash., location of New Seasons Market will be converted to a Metropolitan Market by mid-2020, and the Ballard, Wash., location of New Seasons Market — which is less than two years old — will be closed, according to a news release.
In addition, a New Seasons Market store planned for the central district of Seattle has been nixed.
New Seasons Market will continue to serve the Portland, Ore., and southwest Washington metro area.
Both New Seasons Market and New Leaf Community Markets will still operate independently as certified B Corporations.
“We’re proud to have been a part of growing New Seasons Market and New Leaf Community Market into one of the nation’s most respected retailers,” Stephen Babson, managing director of Endeavour Capital, a firm that owned a large share of the banners, said in the release. “It was important to us that a new partner in the business understand the company’s ongoing commitment to its mission, values and broad engagement with employees, customers, vendors and communities. Good Food Holdings is the right partner to support and continue this legacy.”