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Amazon Just Bought Whole Foods For $13.7 Billion


Amazon Just Bought Whole Foods For $13.7 Billion

Some people refer to “Whole Foods” as “Whole Paycheck.” Well, Amazon founder Jeff Bezos just paid the highest Whole Foods tab ever recorded when, this morning, he officially acquired the grocery store chain at $42 a share. That totals out at $13.7 billion. And you know, Whole Foods doesn’t do any competitive coupon deals, so that was a flat rate.

John Mackey will remain the CEO of Whole Foods, according to cnbc.

“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,” John Mackey, Whole Foods’ CEO, said in a statement.

Whole Foods has been criticized by investors for being in poor financial position, leading to speculation that a sale was imminent.

This is huge news as many retail chains struggle to compete with online shopping. Walmart was said to be in the prime position to compete online when it acquired Jet. But Whole Foods just trumped everyone. It now has a direct line to online shoppers.

And the stock is exploding as a result.

Photo by JeepersMedia

Author: Jim Satney

PrepForThat’s Editor and lead writer for political, survival, and weather categories.

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