US: Healthier Choices Management Corp purchases Mother Earth’s Storehouse
Hollywood, Florida-based Healthier Choices Management Corp (HCMC) has acquired Mother Earth’s Storehouse, an organic and natural health food and vitamin chain in New York’s Hudson Valley.
Mother Earth’s two stores offer organic and all natural products and vitamins from local sources. The company also operates the Mother Earth’s Café and Deli, as well as an onsite bakery.
HCMC owns Ada’s Natural Market, a natural and organic grocery store, and Paradise Health & Nutrition’s three stores. These outlets sell fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health and beauty products and natural household items.
Jeffrey Holman, chief executive of HCMC, said: “Mother Earth’s Storehouse is a major step forward in our growth initiatives, and based upon past performance, we believe this addition should roughly double HCMC’s top-line revenue on an annualised basis. We are thrilled with this addition to HCMC, which expands upon our Ada’s and Paradise-branded stores in Fort Myers and Melbourne, Florida, respectively. There are certainly synergies between the chains upon which we intend to capitalise. For example, the additional purchasing power that naturally comes along with doubling the size of our orders should result in improved margins, potentially leading to better bottom-line results across the board.”
“We are looking forward to continuing the 40-plus year tradition of Mother Earth’s Storehouse in providing the Hudson Valley community with the best health food at competitive pricing, coupled with a knowledgeable and inviting staff, all existing hallmarks of HCMC. As always, I wish to thank our loyal and valued shareholders for their support, and I could not be happier to see another of our growth initiatives come to fruition.”