Planet Organic Acquires New Leaf

"EDMONTON, Feb. 19 /CNW/ - Planet Organic Health Corp ("Planet Organic"), Canada's largest natural foods retailer, today announced that they have signed a Letter of Intent whereby Planet Organic will acquire 100% of the shares of New Leaf Community Markets ("New Leaf") for (US) $9,750,000.

New Leaf is a leading natural foods retailer in Northern California, with three locations in and around the city of Santa Cruz. New Leaf generated revenues of (US)$26.4 million and EBITDA of (US)$1.5 million in fiscal 2007 (unaudited). In fiscal 2008, there are a number of growth initiatives currently underway including one store renovation and two selected new store locations, signifying significant near-term growth opportunities in revenues and cash flow."

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