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 will 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 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,…
