Pharmaca Gets Cash Booster
A $5 million infusion from Oracle Partners should help Pharmaca Integrative Pharmacy Inc. reach its goal of having 24 stores by the end of 2004. Oracle Partners, a private investment group focused on the health care sector, also will add its founder and president, Larry Feinberg, to Pharmaca's board. The Boulder, Colo.-based retailer, which typically acquires independent pharmacies and retools them to include high-end personal care and complementary medicine sections, was founded in 2000 and now has eight stores, all in the West.
Guru Takes on Divas
Supermarket Guru Phil Lempert has added the Modern Organic Divas, Mara Engel and Cheryl Roth, to the roster of columnists at Supermarketguru.com. Engel and Roth, co-founders of the organic and eco-marketing firm Organic Works Marketing, will contribute a monthly organic and eco-living column to the site.
Former Head of Operations Tony Bedard has been named chief executive officer of Frontier Natural Products Co-op. Bedard worked at Frontier from 1991 to 2001, serving as interim CEO following the 2000 departure of founder and CEO Rick Stewart.
The Norway, Iowa-based co-op also elected a new board of directors. Andy Pauley, who has been interim CEO since the 2002 resignation of Steve Hughes, was elected to a two-year term, as was United Natural Foods Inc. Chairman Michael Funk. Cascadian Farm founder Gene Kahn received a one-year term. Former Frontier Marketing Vice President Adam Strauss and Lynn MacDonald, who recently retired as director of sales and marketing at Spectrum Organic Products, were elected to three-year terms.
Shoppers Growing Price Sensitive
A recent Grocery Manufacturers of America survey indicates shoppers today are twice as likely as they were a year ago to base purchase decisions on price. "The change isn't surprising considering the economic reality many Americans face," GMA Vice President Gene Grabowski says. Among the 1,000 shoppers surveyed in February by the polling company, 11 percent selected "it is inexpensive" as the top reason for purchasing their favorite brand, up from 6 percent last year.
Natural Foods Merchandiser volume XXIV/number 5/p. 16