How serious is Amazon about groceries? This serious:
Amazon just announced it is acquiring Whole Foods.
Amazon (NASDAQ:AMZN) and Whole Foods Market, Inc. (NASDAQ:WFM) today 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. […]
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.
Now we know who the first and best customer for the Amazon Go technology will be.
CNBC on Whole Foods (beware, autoplaying video):
Whole Foods has been under pressure from Jana Partners hedge fund and money management firm Neuberger Berman, which have called on Whole Foods to sell itself. The investors have criticized Whole Foods for its poor performance, and have suggested the chain could be merged with another grocer. […]
Whole Foods has been seen as a laggard in the online shift. Their stores tend to be in urban markets where there was an overlap with Amazon Fresh and Prime Now.
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