Whole Foods and Wild Oats have struck a deal to bring the two chains into one, reports the Los Angeles Times. Both specialize in natural and organic foods as well as a selection of high-margin gourmet goods.

Whole Foods will pay $565 million for its lesser rival and assume $106 in debt. One major impetus to this whole deal is that the mainline supermarkets have been working relentlessly to include organic and gourmet lines that have higher margins than their run of the mill canned and packaged goods.

Wild Oats works on lower margins so the 110 new stores in the chain will probably work the Whole Foods model, although that has been suffering from that pesky competition from the likes of Vons and Albertsons.

Wild Oats operates two stores in the valley — one in Green Valley and another near Summerlin. Whole Foods also operates two stores in Clark County — one in Green Valley and another … you guessed – near Summerlin. No hint in Wednesday's announcement, though, that store closings are planned.