Amazon is Buying Whole Foods for $13.7 Billion

Amazon is Buying Whole Foods for $13.7 Billion

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Amazon and Whole Foods today announced that they have entered into a definitive merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt.

“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.”

“This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers,” said John Mackey, Whole Foods Market co-founder and CEO.

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 of Whole Foods Market and Whole Foods Market’s headquarters will stay in Austin, Texas.

Completion of the transaction is subject to approval by Whole Foods Market's shareholders, regulatory approvals and other customary closing conditions. The parties expect to close the transaction during the second half of 2017.

Just yesterday Amazon announced a new 'Dash Wand' kitchen assistant with Alexa that aims to make its easier for customers to quickly order groceries and other supplies. Included with the wand comes a free 90 day trial of AmazonFresh, a service that lets you place an order in the morning for same-day delivery or order your groceries in the evening and find them delivered to your doorstep the next morning.

It's likely that Amazon will use Whole Foods to bolster its online supermarket but it has yet to announce any immediate improvements. Back in December, Amazon unveiled a concept for a physical store called Amazon Go. It had no cashiers and no checkout lines. Click here to see the video. Could Amazon be planning to turn Whole Foods locations into Amazon Go stores? Follow iClarified on Twitter, Facebook, Google+, or RSS for updates.

Amazon is Buying Whole Foods for $13.7 Billion

%27 - June 16, 2017 at 9:05pm
Connoisseur - June 22, 2017 at 6:51pm
Youtube would sell at 100 billions today. Incredible. After whole foods, amazon will go for apple, and after that, for all your paycheck.
H - June 17, 2017 at 6:07pm
I hope they don't shitty it up like they did with "prime" music. All that shit is remastered and it's annoying as f*ck!! I try to listen to good older stuff and it all sounds different because of the "remastered" stuff. It's terrible and disappointing. I hope they don't do this with Whole Foods too and lower the quality.
Pauliep - June 17, 2017 at 12:44pm
WhatsApp is worth more than a supermarket chain? Go figure. Good buy though