New Seasons Market is being sold to a South Korean ownership group, the grocery store announced on Tuesday.
The upscale grocery store has no plans to change its one location in Vancouver, and it will retain its status as a B Corporation. Expansion of New Seasons in the future will be minimal, according to a news release from New Seasons. The sale price was not released, and the sale will close in January.
Of the 20 New Seasons stores, 18 of which are in the Portland area, only one store in Seattle’s Ballard neighborhood will close.
The South Korean ownership group, The Shinsegae Group, made the purchase through a subsidiary called Emart, which owns Good Food Holdings. Good Food Holdings will merge with New Seasons, the news release stated.
