Amazon To Acquire Whole Foods

Amazon and Whole Foods Market, Inc.  announced that they have entered into a definitive merger agreement under which Amazon will acquire the natural and organic supermarket company 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,” said 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,” said John Mackey, Whole Foods Market co-founder and CEO.

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

Founded in 1978 in Austin, Whole Foods Market had sales of approximately $16 billion in fiscal 2016 and has more than 460 stores in the United States, Canada, and the UK. 

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.