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Amazon to buy Whole Foods for $13.7 billion

Amazon announced today, that they will be acquiring Whole Foods Market for approximately $13.7 billion, which is about $42 per share.

“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Jeff Bezos, Amazon founder and CEO. “Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue.”

Whole Foods’ headquarters will stay in Austin, Texas and Whole Food CEO, John Mackey will remain in his position. The company also announced that they will continue to operate under the Whole Food Market brand.

Some say that this acquisition was so then Amazon could easily roll out Amazon Go, which is their idea of grocery stores without lines or cashiers.

Whole Foods has over 460 locations in the US and a few in Canada and the UK. The acquisition is expected to close during the second half of 2017.

Amazon is also rumored to acquire Slack, the business chat app, according to a report by Bloomberg earlier this week.

Source: Amazon via The Verge




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SOURCES USED:
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