Amazon Buys Whole Foods For $13.7 Billion
Amazon just announced a massive deal to acquire the grocery store chain Whole Foods for $13.7 billion. The money in the deal came from Amazon paying $42 per share. The deal will not be official until at least fall of 2017.
Amazon seems to be adamant about getting into the Grocery business. They launched their Amazon Fresh service a few year ago in select locations. Buy Whole Foods appears to be a much more aggressive move to penetrate the grocery market.
I wonder if the pricing will be affected by the merger? A lot of people refer to Whole Foods as “Whole Check” with their products being priced much higher than the average grocery store.
“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
What do you think?