Amazon buys Whole Foods for $13.7 Billion - Biggest bet on groceries
Amazon.com Inc. is making his biggest transaction ever by acquiring Whole Foods Market Inc. for $13.7 billion.
According to the company, that means that Amazon will pay $42 a share for the organic-food. John Mackey, Whole Foods’ co-founder and CEO, will still be running the business.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” Amazon CEO Jeff Bezos said in a statement.
According to John Mackey, CEO & co-founder of Wholefoods, 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 their customers.