Amazon to buy Whole Foods Market for $13.7 billion

Amazon to buy Whole Foods Market for $13.7 billion

By Keshala Dias

17 Jun, 2017 | 11:27 am

Online retail giant Amazon is buying Whole Foods Market in a $13.7bn (£10.7bn) deal.

The all-cash deal could be game-changing for the traditional supermarket business.

Buying Whole Foods, the biggest premium grocer in the US, will radically accelerate Amazon’s ambitions in the $800bn US food and grocery sector.

Amazon is the fourth biggest business in the US and accounts for 43% of online sales there. Whole Foods, founded in 1980, has about 460 stores, including nine in the UK where it has operated since 2004.

Amazon founder and Chief Executive Jeff Bezos said: “Millions of people love Whole Foods Market because they offer the best natural and organic food, and they make it fun to eat healthy.

“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.”