(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.