Natural foods grocery chain to open up to four more Utah stores

(The Enterprise) Colorado-based Sunflower Farmers Market plans to open several new Utah stores. They will fund the projects with the proceeds from closing on $35 million in new financing.  The Market currently has operating locations in Murray and Orem, and feels the greater Salt Lake area could hold six of its roughly 28,000 square foot stores. According to CEO Mike Gilliland, two new facilities could close in the next few weeks. “We are hoping for six to eight stores in the state, and right now are focusing primarily on Salt Lake,” he adds.  Last month, Sunflower, a natural foods grocery chain, raised $35 million in new funding, compromised of a $30 million five-year loan package from Fifth Third Bank and a $5 million equity investment from Pacific Corporate Group.  In 2009, the chain opened seven new stores in four states and achieved a 50 percent increase in sales. At present, the firm has 27 stores in Arizona, Colorado, New Mexico, Utah, Nevada and Texas. Each store employs around 100 people and costs roughly $2 million to build.