Amazon to acquire Whole Foods Market

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Amazon and Whole Foods Market, Inc. have entered a merger agreement that would see Amazon acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion.

Jeff Bezos, Amazon founder and CEO, told BusinessWire.com, “Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy. 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.

Whole Foods Market will continue to operate stores under the Whole Foods Market brand. John Mackey will remain as CEO of Whole Foods Market and its headquarters will stay in Austin, Texas.

Completion of the transaction is subject to approval by Whole Foods Market’s shareholders, regulatory approvals and other closing conditions. The merger is expected to be completed in the second half of 2017.