Private Equity Firm Buys 17% of Whole Foods

By ANDREW MARTIN

Published: November 5, 2008

A private equity firm is buying a 17 percent stake in Whole Foods Market, a much-needed vote of confidence for a chain that is being battered by increased competition and a weak economy.Skip to next paragraph

The news came as the company announced a huge drop in fourth-quarter earnings amid sputtering sales.

Under the terms of the agreement, Green Equity Investors, an affiliate of Los Angeles-based Leonard Green & Partners, will invest $425 million in the company.