Industry News | June 19, 2017

Amazon to Acquire Whole Foods in Big Grocery Shakeup

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Amazon and Whole Foods Market Inc. announced that they have entered into a definitive merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net 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,” says 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.”

“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,” says John Mackey, Whole Foods Market cofounder and CEO.

Whole Foods Market will continue to operate stores under the Whole Foods Market brand and source from trusted vendors and partners around the world. John Mackey will remain as CEO of Whole Foods Market, and Whole Foods Market’s headquarters will stay in Austin, Texas.

Completion of the transaction is subject to approval by Whole Foods Market's shareholders, regulatory approvals, and other customary closing conditions. The parties expect to close the transaction during the second half of 2017.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.