Skip to content Skip to navigation

Amazon to Acquire Whole Foods

Print Friendly and PDF
  • Photo courtesy of Whole Foods

Editor's note: Amazon is the hottest topic in the industry right now, and with today's news, Amazon is poised to shake up the grocery industry.  To read how Amazon is transforming the action sports landscape, see our recent story "Lessons Learned from the Amazon Wars."

In another sign of the rapidly changing retail landscape, Amazon announced this morning that it is buying premium grocery chain Whole Foods.

The online giant, which has been pushing into groceries with its Amazon Fresh service, will pay $13.7 billion in cash, or $42 per share.

Whole Foods’ stock priced closed at $33.06 Thursday.

Amazon continues to drive huge change in the retail industry, and this acquisition will likely have big repercussions on grocery competitors.

OUR SPONSORS

Whole Foods has been under pressure from activist shareholders unhappy with the company’s performance. Same-stores sales have been challenged as competitors have increased lower-priced, organic food selections and shoppers have shied away from Whole Foods' “whole paycheck” prices.

Company executives had said recently that Whole Foods would be closing some stores and lowering prices in a bid to boost its performance.

Whole Foods will continue to operate under the Whole Foods brand and its headquarters will remain in Austin, Texas.

CEO and Co-Founder John Mackey will remain with the company, according to a statement from Whole Foods.

 

OUR SPONSORS

 

 

 

More news

Last updated: : 08/21/2017 - 14:45

An inspiring retail story about how three siblings in their 30s have doubled the size of the family business by constantly evolving and embracing new strategies while staying true to their roots

Last updated: : 08/18/2017 - 12:51

Foot Locker's business goes into reverse, and executives had lots of interesting commentary on an earnings call this morning

Last updated: : 08/17/2017 - 14:48

Details about what categories worked at core stores in the second quarter

Last updated: : 08/16/2017 - 09:57

Why business is booming at Free People, plus why Urban Outfitters is optimistic about the third quarter despite recording a very rough second quarter

Last updated: : 08/15/2017 - 08:13

How Tavik has become one of the most talked about swim brands in the industry, especially among savvy retailers

Last updated: : 08/14/2017 - 09:28

VF makes a major move in the workwear industry

Last updated: : 08/10/2017 - 09:50

Debby Martin shares details about business trends at L*Space, how the brand is trying to give retailers newness more frequently, and what is coming next season

Last updated: : 08/10/2017 - 08:17

Scott Kerslake will lead the Nixon team, replacing outgoing CEO Nick Stowe

Last updated: : 08/08/2017 - 08:51

The Miami store, along with the Soho location in New York, is considered the pinnacle of Nike retail. And it’s very impressive.

Last updated: : 08/08/2017 - 08:25

Former Volcom CEO Jason Steris and former SVP Global Product Dutch Schultz launch a new venture.