Amazon is buying Whole Foods
June 16, 2017
• It’s a $13.7 Billion deal
• “They make it fun to eat healthy”
Internet-based retailer Amazon.com Inc. has found a produce aisle it really likes and it’s in Whole Foods.
Amazon (NASDAQ: AMZN) says it likes Whole Foods Market Inc. (NASDAQ: WFM) so much that it’s buying more than a cucumber – it’s buying the whole company.
It will pay $42 per share -- all-cash – at checkout with the register receipt totaling $13.7 billion, including Whole Foods Market's net debt.
Whole Foods has four stores in the Central Valley:
"Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy," says Jeff Bezos, Amazon founder and CEO.
"This partnership presents an opportunity to maximize value for Whole Foods Market's shareholders,” says John Mackey, Whole Foods Market co-founder and CEO.
Whole Foods Market will continue to operate stores under the Whole Foods Market brand. Mr. 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.