New Seasons to merge with Good Food Holdings

Oregon

The merger is expected to close in January 2020

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A new seasons store in the Raleigh Hills area of Portland (KOIN, file)

PORTLAND, Ore. (KOIN) — New Seasons Market will merge with Good Food Holdings but will maintain their certification as a B Corporation and keep their focus on the Portland-area.

In a release Tuesday, New Seasons Market officials said the merger, which will also include California-based New Leaf Community Markets, is expected to close in January 2020.

In a statement, New Seasons Market/New Leaf Community Market CEO Forrest Hoffmaster said, “This partnership with Good Food Holdings ensures our longevity as a community cornerstone − one that continues to nourish our neighbors and staff, inspire environmental stewardship and champion the local food economy, as we have done since 2000.”

Hoffmaster and the other local leaders will continue in their roles, the statement said.

Good Food Holdings is rooted in communities from Seattle to Southern California and the plan is to continue building their brand through each home market. New Seasons will keep its focus on the Portland and Southwest Washington metro regions.

Both New Seasons and New Leaf will maintain their B Corp standards and certification, support the regional food economy and give 10% of after-tax profits to the local community, officials said.

Good Food Holdings is a subsidiary of Emart, which is a part of The Shinsegae Group, a leading global retailer in Seoul, South Korea.

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