Amazon to Acquire Whole Foods Market
In a breaking news report, Business Wire announced that Amazon is set to acquire the Whole Foods chain of food stores across the United States. Upon approval, which is currently pending, this $14 billion dollar ($42 per share) acquisition will be Amazon’s largest by about $12.7 billion.
Amazon has focused on acquiring new companies since its early years. From Zappos in 2009 to video streaming service Twitch in 2014 and now Whole Foods, Amazon now has a major line of big brands operating under their direction. Here’s a brief summary of Amazon’s top acquisitions over the past decade:
Dedication to Quality Drives Whole Foods Acquisition
This latest acquisition sets Amazon another step ahead of the game as far as online grocery sales, and according to Jeff Bezos, the companies are quite similar in terms of their missions and core beliefs. Amazon is notoriously dedicated to long-term growth rather than short-term financial success, and they pride themselves on being the most customer-centric marketplace available. Whole Foods is rooted in quality – since their launch in 1978, they have been known as “America’s Healthiest Grocery Store” and were the first certified organic food store in the country. Both brands are highly dedicated to the customers, aiming to provide only the best products and customer service experience.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthily,” stated Bezos. “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.”
Whole Foods will retain their current CEO, John Mackey, and will remain at its current location in Austin, Texas. The decision is pending a final vote by Whole Foods Shareholders and is set to complete in mid-2017.