Community-based natural and organic grocer Alfalfa’s Market will return to its original Boulder, Colo., location as part of Whole Food Market’s divestiture of certain assets and stores it acquired in its 2007 merger with Wild Oats.

A-M Holdings, LLC, the holding company for Alfalfa’s, yesterday received approval from the Federal Trade Commission (FTC) to acquire the Whole Foods store as well as the Alfalfa’s Market name and intellectual property. The purchase price and other details relating to this transaction haven’t been disclosed.

“We are bringing Alfalfa’s back to our hometown of Boulder in the exact location where it all started,” said Mark Retzloff, co-founder of Alfalfa’s. “As Boulderites ourselves, we will be able to directly address the needs of this community with our passion for natural and organic food, and health care products. We are working with a team of seasoned foodies, retail and organic industry pros to develop a new, state-of-the-art retail experience while maintaining the local, all-natural and community market feel Alfalfa’s was always known for.”

At the end of July 2010, Alfalfa’s Market will obtain ownership of the Broadway and Arapahoe store, which will close for an extensive remodel. The store is expected to re-open as Alfalfa’s Market by the end of 2010.

Founded in Boulder in 1983, Alfalfa’s grew to 11 stores, with a reputation for being a community gathering place filled with “an infectious passion for natural and organic foods,” Alfalfa’s was acquired by Wild Oats Markets in 1996.

According to the company, the new store will be true to its roots as a Boulder-owned and -operated natural foods market, and while it will be modernized, it will retain the same passion, adherence to strict product standards and true community market experience for which Alfalfa’s was famous.