Amazon to acquire Whole Foods in $13.7 billion deal
In a deal that has sent shockwaves through both online and brick-and-mortar industries, Amazon.com has said it will acquire Whole Foods Market for $13.7 billion. According to Bloomberg, Amazon has agreed to pay $42 a share (in cash) for the organic-food chain.
While Whole Foods co-founder John Mackey (pictured) will continue to run the business as CEO, Amazon CEO Jeff Bezos intends to jump right in, tackling tech upgrades first, in a bid to boost Whole Foods' business.
According to reports, the takeover should be done by the second half of the year.