Amazon to buy Whole Foods in $13.7 billion deal, companies announce
Amazon will acquire Whole Foods for $42 per share in an all-cash transaction valued at $13.7 billion, the companies announced Friday.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Jeff Bezos, Amazon founder and CEO. “Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue.”
Whole Foods will continue to operate under the Whole Foods name. John Mackey will remain as CEO and the company will keep its headquarters in Austin, Texas.
“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 said.
The deal is subject to the approval by Whole Foods Market’s shareholders, regulatory approval and other closing conditions. The companies expect to close the merger during the second half of 2017.