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Amazon to buy Whole Foods Market in $13.7bn deal

Friday, June 16th, 2017

Amazon is set to buy the organic food specialist Whole Foods in a deal valued at $13.7bn.

The deal would be a big step forward in Amazon’s push for the food and grocery market, building on the momentum of its AmazonFresh, Prime Now and Pantry services.

There has been much speculation about Amazon’s interest in making a big play for the “bricks and mortar” side of the retail business. Whole Foods Market has more 460 locations  in the US, Canada and the UK – so this question could be answered at a stroke.

John Mackey, Whole Foods Market co-founder and chief executive, commented: “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.”

Mackey will remain at the helm and Whole Foods Market’s headquarters will stay in Austin, Texas.

Whole Foods Market has worked with Instacart in the US and Quiqup in London on providing home deliveries. One imagines that the grocer will now be looking to work far more extensively with Amazon.

Source: Post&Parcel

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Amazon to buy Whole Foods Market in $13.7bn deal

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