Portfolio Company Profiles

New Seasons Market



New Seasons Market operates a group of highly differentiated, neighborhood grocery stores in Oregon and Northern California under the New Seasons Market and New Leaf Community Markets banners. In the Portland-area of Oregon, New Seasons' stores offer a unique mix of natural/organic items, locally sourced items, and some conventional products to meet all of a customer's shopping needs. In Northern California, New Leaf stores offer primarily natural/organic items and locally sourced items. Both are deeply committed to their local communities, the local food economy, sustainable practices, and their employees. These commitments are engrained in how they operate and are reflected in the unique in-store experiences and loyal consumer following. They are the first two grocers in the country to earn B Corp certification, one of the highest standards for environmental and social responsibility.

New Seasons was founded in Portland, Oregon in 1999 by three pioneers in the natural foods industry who wanted to develop a grocery store committed to taking care of its employees, customers, community and environment. New Leaf was founded in Santa Cruz in 1985 by another pioneer in the natural foods industry and shares nearly the same mission and commitments. Endeavour developed a relationship with the three primary owners of New Seasons, and separately of New Leaf, over many years. In 2009, Endeavour invested in New Seasons to provide partial liquidity to the existing shareholders, facilitate a transition to the next generation of leadership, and to support sustainable growth. In 2013, New Seasons acquired New Leaf in order to build smart scale by partnering with a company and management team exemplifying the same values and practices of New Seasons.

Endeavour was attracted to the opportunity for a number of reasons, including the companies' loyal following among Portland and South Bay-area consumers, the unique product mix and related expertise, and the founders' commitments to their local communities engrained in how they operate and key to their success. Endeavour and the New Seasons Market and New Leaf shareholders, together, intend to continue investing in the company for long-term growth and sustainability, while preserving the company's mission and unique local and community-oriented strategy.

www.newseasonsmarket.com

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