Exhibit 99.1
Whole Foods Market and Wild Oats Markets Announce U.S. District Court
Hearing Schedule for FTC Complaint Regarding Merger
AUSTIN, Texas & BOULDER, Colo.--(BUSINESS WIRE)--June 12,
2007--Whole Foods Market, Inc. (NASDAQ: WFMI) and Wild Oats Markets,
Inc. (NASDAQ: OATS) today announced the U.S. District Court for the
District of Columbia has scheduled a preliminary injunction hearing to
begin on July 31, 2007 and to conclude on August 1, 2007 to decide
whether to approve the U.S. Federal Trade Commission's (FTC)
application for an injunction to block the proposed merger between the
two companies. Whole Foods Market and Wild Oats Markets have consented
to a temporary restraining order pending the hearing.
On February 21, 2007, Whole Foods Market and Wild Oats Markets
entered into a merger agreement pursuant to which Whole Foods Market
commenced a tender offer to purchase all the outstanding shares of
Wild Oats Markets at a purchase price of $18.50 per share in cash,
plus assumed debt. As previously announced, the FTC provided notice of
its intent to file a complaint in the U.S. District Court for the
District of Columbia seeking to block the proposed acquisition of
shares pursuant to the tender offer. The FTC did file such complaint
with the U.S. District Court for the District of Columbia on June 7,
2007. Whole Foods Market and Wild Oats Markets plan to cooperate to
challenge the FTC's opposition to the merger.
About Whole Foods Market
Founded in 1980 in Austin, Texas, Whole Foods Market(R) is a
Fortune 500 company and one of the leading retailers of natural and
organic foods. The Company had sales of $5.6 billion in fiscal year
2006 and currently has 195 stores in the United States, Canada and the
United Kingdom.
About Wild Oats Markets
Wild Oats Markets, Inc. is a nationwide chain of natural and
organic foods markets in the U.S. and Canada. With more than $1.2
billion in annual sales, Wild Oats currently operates 109 natural food
stores in 23 states and British Columbia, Canada. Wild Oats' markets
include: Wild Oats Marketplace, Henry's Farmers Market, Sun Harvest
and Capers Community Markets. For more information, please visit the
Wild Oats website at www.wildoats.com.
Whole Foods Market Safe Harbor Statement and Securities Law
Disclosure
The following constitutes a "Safe Harbor" statement under the
Private Securities Litigation Reform Act of 1995: Except for the
historical information contained herein, the matters discussed in this
press release are forward-looking statements that involve risks and
uncertainties, which could cause Whole Foods Market's actual results
to differ materially from those described in the forward looking
statements. These risks include but are not limited to general
business conditions, the timely development and opening of new stores,
the impact of competition, and other risks detailed from time to time
in Whole Foods Market's SEC reports, including the reports on Form
10-K for the fiscal year ended September 24, 2006. Whole Foods Market
undertakes no obligation to update forward-looking statements.
Securities Law Disclosure: The description contained herein is
neither an offer to purchase nor a solicitation of an offer to sell
shares of Wild Oats Markets, Inc. Whole Foods Market, Inc. and WFMI
Merger Co. have filed with the Securities and Exchange Commission a
tender offer statement on Schedule TO and certain amendments thereto,
and have mailed an offer to purchase, forms of letter of transmittal
and related documents to Wild Oats' stockholders. Wild Oats has filed
with the Securities and Exchange Commission, and has mailed to Wild
Oats' stockholders, a solicitation/recommendation statement on
Schedule 14D-9 with respect to the tender offer. These documents
contain important information about the tender offer, including the
terms of the tender offer, and stockholders of Wild Oats are urged to
read them carefully. Stockholders of Wild Oats may obtain a free copy
of these documents and other documents filed by Wild Oats or Whole
Foods Market with the Securities and Exchange Commission at the
website maintained by the Securities and Exchange Commission at
http://www.sec.gov or by contacting the information agent for the
tender offer, Georgeson Inc., at (212) 440-9800 or (866) 313-2357
(toll free), or the dealer manager for the tender offer, RBC Capital
Markets Corporation, at (415) 633-8668 or (800) 777-9315 x8668 (toll
free).
Wild Oats Markets Risk Factors and Uncertainties
This release contains forward-looking statements, as defined in
the Private Securities Litigation Reform Act of 1995, which involve
risks and uncertainties. Such forward-looking statements include: the
number of stores Wild Oats Markets plans to open, remodel and relocate
in the future, and the anticipated performance of such stores; the
amount of capital expenditures required to open or remodel stores;
expected future comparable store sales, revenues and earnings per
share, future financial measures and prospects for favorable growth
and performance, the likelihood of receipt of regulatory consents to,
and the timing of the consummation of the proposed tender offer and
merger, and Wild Oats Markets' ability, within a reasonable time
period, to identify and hire a chief executive officer with the vision
and ability to continue Wild Oats Markets growth.
The statements made by Wild Oats Markets are based on management's
present expectations, and actual results may differ from the results
indicated or otherwise implied by such forward-looking statements due
to certain risks and uncertainties including, but not limited to: Wild
Oats Markets' ability to execute, the results of merchandising and
marketing programs, the impact of competition, the pending merger and
other factors as are set forth in Wild Oats Markets' SEC filings,
including the Annual Report on Form 10-K for the fiscal year ended
December 30, 2006 and Wild Oats Markets' quarterly reports on Form
10-Q. These risk factors may not be an all-inclusive enumeration of
the business risks faced by Wild Oats Markets. Investors should
recognize that the reliability of any projected financial data
diminishes the farther in the future the data is projected.
The statements made by management of Wild Oats Markets and
summarized above represent their views as of the date of this press
release, and it should not be assumed that the statements made herein
remain accurate as of any future date. Wild Oats Markets does not
intend to update these statements and undertakes no duty to any person
to effect any such update under any circumstances.
CONTACT: Wild Oats Markets
Sonja Tuitele, 303-396-6984
Corporate Communications
or
Whole Foods Market
Cindy McCann, 512-542-0204
VP, Investor Relations