This is only an excerpt of the full article that appeared in P&F Magazine. The full content is not currently available online.
In “The F&F Horizon: 2009 and Beyond,” a number of F&F experts discussed their views on the state and future of the industry from the vantage point of formulation to raw materials to the marketplace. (Perfumer & Flavorist magazine, January 2009, Page 45.) In this week’s edition of P&Fnow, we present several extended commentaries from our panel of experts and industry voices.
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Suppliers were overjoyed when Whole Foods Market Inc. announced on Nov. 5, 2008, that Leonard Green & Partners, L.P. were providing $425 million of additional equity from the sale of series A preferred stock to Green Equity Investors V, L.P., an affiliate of Leonard Green, which equates to an ownership interest (assuming conversion of the preferred stock to common stock) of approximately 17%. However, shortly after that announcement Whole Foods Market Inc. said that its profit plunged in the fourth quarter largely due to costs related to its acquisition of Wild Oats Markets Inc. The Austin, Texas-based grocer also cut its earning forecast for the year as sales continued to slow.