Report: Whole Food to avoid big acquisitions

New York City Whole Foods CEO John Mackey said he would consider only smaller acquisitions going forward, according to Bloomberg News.

"I don't want to make any acquisition that requires the government to approve it ever again," Mackey said in the report. "Mom-and-pop-type chains will be the type of acquisitions we do in the future. I don't anticipate any large acquisitions."

Although the company has no immediate plans for acquisitions, it wouldn't ignore a good opportunity, Mackey said, and added that the company will focus on paying down debt from the Wild Oats acquisition.

To boost cash flow and increase profit, Whole Foods plans to reduce store sizes to between 30,000 sq. ft. and 50,000 sq. ft., according to the report.

Whole Foods’ 99,000-sq.-ft. store in London has proved to be too large, and that experience is slowing further plans for overseas expansion, according to the report.