Amazon Buys Whole Foods Market For $13.7 Billion

(CBS Seattle) — Seattle-based retail giant Amazon made its foray into the brick-and-mortar arena Friday, acquiring Whole Foods Market for a cool $13.7 billion.

A press release Friday morning announced Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction.

Shoppers shouldn’t notice a change at the retail level; Whole Foods Market’s stores will continue to operate under its existing brand.

“Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades,” said Amazon CEO Jeff Bezos. “They’re doing an amazing job and we want that to continue.”

The deal is expected to close in the second half of 2017.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Seattle

SIGN UP!
DOWNLOAD IT NOW!
Watch Danny Bonaduce On DANNY TV

Listen Live