Amazon to buy Whole Foods in $13.7B deal

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Fox Business

E-commerce giant Amazon (AMZN) announced Friday it will snap up struggling grocery chain Whole Foods Market (WFM) for $42 per share in an all-cash deal valued about $13.7 billion including debt.

“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 Amazon CEO Jeff Bezos in a statement. “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.”
Under the deal, Whole Foods will continue to operate stores under its independent brand and the company’s CEO and founder, John Mackey will remain in his position. Mackey said the partnership allows the Austin, Texas-based food retailer to continue efforts to bring high-quality foods and convince to its customers across America.