Amazon has made a bid to buy Whole Foods in what would be a whopping $13.7 billion deal.
The all-cash acquisition (which includes Whole Foods Market’s net debt), will radically shake up any number of businesses and completely changes the online retail and bricks and mortar landscape.
“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 chief executive 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.”
Whole Foods will continue to operate stores under its brand and will use its same vendors and partners around the world.
John Mackey will remain chief executive of Whole Foods the company’s headquarters will still be in Austin.
The deal, which is subject to approval of Whole Foods shareholders and regulators is expected to close in the second half of 2017.
The news, which was first reported by Bloomberg will have significant implications for any number of highly valued startup companies and the entire grocery industry.
Already today most grocery store stocks have tumbled sharply in early morning trading (since everyone is afraid of the Seattle-based juggernaut). Read More
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