The upscale grocery chain New Seasons Market, a Portland-based company, recently announced that it is being purchased by the South Korean company Emart.
New Seasons, an offshoot of Nature’s Fresh Northwest, broke with its parent company in 1999 when Nature’s was purchased by Wild Oats Market. During its two decades in business, the chain has grown to 21 stores. All but three of those are in the Portland area.
One New Season store in Seattle will be closed by the first of the year and that city’s planned for second store will not be opening. The company’s Mercer Island location is to be converted to another brand controlled by Emart. All Portland New Seasons’ locations will remain in operation.
Companies changing owners yet retaining their original name, usually do not need to update their Business Cards and other business Stationery, unless it is to include the new owner’s logo.
A huge discount retailer, Emart has steadily been increasing its U.S. market share. Good Food Holdings, an affiliate of Emart, will be overseeing its New Seasons properties. Last year, Good Food was purchased by the South Korean company for $275m. The sale price for New Seasons has not been disclosed yet.
According to New Seasons the closing of its sale to Emart will take place sometime in January 2020.
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