Amazon announces it will buy Whole Foods for $13.7 billion BY KAREN GRAHAM Source: Digital Journal
In what is being called a blockbuster of a deal, e-commerce giant Amazon will acquire Whole Foods Market Inc. for $13.7 billion, including debt. The deal will see Amazon in hundreds of physical stores across the country as it fulfills the e-commerce company’s goal of selling more groceries to the public. The deal is expected to close in the second half of 2017, with Amazon reportedly paying $42 a share, according to Bloomberg.
“Whole Foods Market will continue to operate stores under the Whole Foods Market brand and source from trusted vendors and partners around the world. John Mackey will remain as CEO and Whole Foods Market’s headquarters will stay in Austin, Texas,” according to the press release.