Amazon to Purchase Whole Foods


Seattle-based online retail giant Amazon has announced plans to purchase Austin, Texas-based grocer Whole Foods in a $13.7 billion deal. Amazon will assume the grocery chain’s debt burden as well, the Washington Post reports, paying $42 per share for the company. The deal is expected to close during the second half of this year.

“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,” Whole Foods CEO John Mackey said in a statement. Mackey will remain CEO of the company, which will continue to operate under its existing banner.

Whole Foods oversees roughly 430 stores.

Share

More News

Target to Open First Vermont Store
October 20, 2017
Vermont is set to receive its first Target store in 2018.
Full Story

New Apple Store Arrives Along Chicago Riverfront
October 20, 2017
Cupertino, Calif.-based tech giant Apple has opened its newest retail space along the Chicago riverfront.
Full Story

Macy’s to Sell Seven Floors of Chicago Flagship
October 19, 2017
New York-based department store Macy’s has confirmed plans to sell the upper half of its State Street flagship in Chicago.
Full Story