Amazon Steps Into The Grocery Business With Whole Foods Market Deal

“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.

Social media exploded today with the news that Amazon has acquired Whole Foods Market in a nearly $14 billion deal.

This morning the company announced they would be acquiring Whole Foods Market in a cash deal of approximately $13.7 billion worth.

Amazon’s interest and initial step into the grocery business started with AmazonFresh, a grocery delivery service available to certain metro-areas. In April, the service was announced to have reached Tokyo.

While the deal will provide a doorway into the grocery business for the online company, Whole Foods Market will continue to operate under the Whole Foods Brand.

The organic and natural foods marketplace was founded in Austin, Texas, in 1978. The company has more than 460 stores in the U.S., Canada and the United Kingdom.

“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.”

The deal is subject to Whole Foods Market’s shareholders but is expected to be completed by the end of 2017.

“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,” said John Mackey, Whole Foods Market co-founder and CEO.