Amazon is buying Whole Foods for $13.7 billion

Amazon is buying American supermarket chain Whole Foods for $13.7 billion, the online retail giant announced today. The acquisition is technically happening as part of a merger agreement that will see Amazon pick up the supermarkets net debt and purchase its stock at $42 per share. The brick-and-mortar stores will continue to operate under the

Amazon is buying American supermarket chain Whole Foods for $13.7 billion, the online retail giant announced today. The acquisition is technically happening as part of a merger agreement that will see Amazon pick up the supermarket’s net debt and purchase its stock at $42 per share. The brick-and-mortar stores will continue to operate under the Whole Foods brand once the deal is complete, which is expected to happen later this year, but is subject to approval by regulators and the supermarket’s shareholders.

“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” Jeff Bezos, the founder of Amazon, said in a statement. “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.”

The Whole Foods Brand will remain

Whole Foods will keep its headquarters in Austin, Texas, and the company’s CEO, John Mackey, will remain in his post. The company recently overhauled its board of directors in an effort to survive what The New York Times called the “greatest crisis of confidence in its 37-year history.”

“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,” Mackey said in a statement.

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