Amazon has taken a giant leap into the grocery business. The company announced on Friday morning that they've struck a deal to buy Whole Foods for $13.7 billion dollars - or $42 per share. That's a 27% premium for Whole Foods stockholders.
Whole Foods' John Mackey will continue on as the CEO of the grocery chain after the deal closes, and the Whole Foods brand will remain as is.
The deal is expected to close in the second half of the year.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” Jeff Bezos, Amazon founder and CEO said in a statement released by the company. “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.”
Hopefully this merger means we'll one day be able to have our imported Parmesan cheese and La Croix Sparkling water delivered by an Amazon Prime drone.