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Natural Grocers by Vitamin Cottage Acquires Assets of Nature’s Pantry and Will Begin Operations in Independence, Missouri

Company Press Release

LAKEWOOD, Colo., Nov. 7, 2014 /PRNewswire/ — Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) today announced it has agreed to purchase substantially all the assets and assume certain liabilities of natural foods retailer Nature’s Pantry, Inc., which has operated since 1995 in Independence, Missouri. The transaction is expected to close on December 7, 2014, at which time the store will start to operate as a Natural Grocers by Vitamin Cottage store.

“We are excited to become part of the Independence community,” said Kemper Isely, Co-President of Natural Grocers. “In entering this new market, we look forward to continuing Nature’s Pantry’s mission of empowering customers to make informed health decisions through our nutrition education, high quality standards and affordable prices.”

Commenting on the transaction, Nature’s Pantry co-owner and partner Bob Perkins said, “We are proud and pleased to have the opportunity to align with Natural Grocers by Vitamin Cottage, a company that shares our goal of making healthy eating affordable to all. We especially want to thank all of our customers and employees for helping us achieve this goal, and we look forward to assisting Natural Grocers in building on our success.”

This transaction is expected to be accretive to Natural Grocers for fiscal 2015, although it will be immaterial to earnings per share. The Independence store will be included as one of the 18 stores the Company expects to open during fiscal year 2015. Further terms of the agreement are not being disclosed.

On November 20, 2014 at 2:30 p.m. Mountain Time, the Company will host its fourth quarter and fiscal year 2014 earnings conference call. The Company will address any questions regarding today’s announcement at that time. To participate in the conference call, dial 1-888-347-6606 (U.S.); 1-855-669-9657 (Canada); or 1-412-902-4289 (International). The conference ID is “Natural Grocers by Vitamin Cottage.” A simultaneous audio webcast will be available at

About Natural Grocers by Vitamin Cottage

Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) is a rapidly expanding specialty retailer of natural and organic groceries and dietary supplements whose products must meet strict quality guidelines. The grocery products sold by Natural Grocers may not contain artificial colors, flavors, preservatives, sweeteners, or partially hydrogenated or hydrogenated oils. Natural Grocer’s flexible small-store format allows it to offer affordable prices in a shopper-friendly retail environment. The Company provides extensive free science-based nutrition education programs to help customers make informed health and nutrition choices. The Company, founded in 1955, has 90 stores in 15 states.

Visit for more information and store locations. Follow Natural Grocers on Facebook at Follow Natural Grocers on Twitter at

SOURCE Natural Grocers by Vitamin Cottage, Inc.

For further information: Ashley MacLeod, Director of Finance and Investor Relations, 303-986-4600