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Amazon shocks industry with $13.7bn Whole Foods acquisition

Amazon and Whole Foods Market, Inc. have entered into a definitive agreement under which Amazon will acquire the organic foods supermarket for approximately $13.7 billion, according to a company release.



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Author: Daniel Infante & Oscar Smith

Amazon has dropped a bomb in the retailing world by announcing the acquisition of Whole Foods Market, a natural and organic foods supermarket with more than 460 stores in the United States, Canada and the United Kingdom.

Whole Foods Market stores will retain its brand, John Mackey as CEO, as well its headquarters in Austin, Texas.

“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,” said Jeff Bezos, Amazon founder and CEO.

The move further reveals how Amazon no longer sees itself as an online retailer but as a full grocery supplier and retailer. With the acquisition the company also taps into one of the fastest growing markets in retail – organic food and fresh produce.

“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.

Completion of transaction, which is expected to take place during the second half of 2017, is subject to approval by Whole Foods Market's shareholders, regulatory approvals, and other customary closing conditions.

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