Amazon to Buy Whole Foods in $13.7 Billion 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 Amazon's Jeff Bezos.
Amazon announced it will be acquiring Whole Foods Market on Friday, in a deal valued at approximately $13.7 billion.
"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, 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."
John Mackey, Whole Foods Market co-founder and CEO, added, "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."
Whole Foods Market will continue to operate stores under its brand and "source from trusted vendors and partners around the world," said the statement on the merger.
John Mackey will remain as CEO of Whole Foods Market and Whole Foods Market's headquarters will stay in Austin, Texas.
The transaction is subject to approval by Whole Foods' shareholders, regulatory approvals and other customary closing conditions and is expected to close during the second half of 2017.