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Amazon to acquire Whole Foods Market for $13.7 billion

16 June 2017 0

Amazon and Whole Foods Market have shaken hands today and announced a definitive merger under which Amazon will acquire Whole Foods Market for $13.7 billion at $42 per share. This will be an all-cash transaction which covers Whole Foods' net debt.

Jeff Bezos, CEO of Amazon, reflected on the merger:

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.

The stock for both the companies shot up after the announcement. While Amazon saw a jump of 3.3%, Whole Foods Market saw stock price increasing 30%. Clearly, the merger is understood in a positive way by the investors and shareholders.

Rise in Amazon and Whole Foods Market share price after merger announcement

John Mackey, Whole Foods Market co-founder and CEO said:

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

Whole Foods Market will keep on operating under the original name and source from trusted vendors and partners around the world. The headquarters will stay in Austin, TX and Mackey will continue to remain the CEO of the company. Completion of the transaction is subject to approval by Whole Foods Market's shareholders, regulatory approvals, and other customary closing conditions.

The transaction is expected to be closed in mid-2017.



Amazon to acquire Whole Foods Market for $13.7 billion
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