Amazon buys Whole Foods for $13.7 billion
Amazon has snagged Whole Foods for a whole lot of dough. $13.7 billion to be exact. Whole Foods CEO John Mackey is going to stay on and the brand will continue to operate under the same name.
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“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.” – John Mackey
The move further illustrates efforts made by Amazon to expand beyond online retail and into physical stores. Amazon would pay $42 a share, a 27 percent premium to Thursday’s closing price.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy.” – Amazon CEO Jeff Bezos
Shares of Amazon were up about 3 percent following the news.