Amazon agrees to buy Whole Foods for $13.7B

The deal sets the stage for more radical store experimentation and intensified competition with grocery rivals.

DENVER BUSINESS JOURNAL - Whole Foods Market Inc. is being bought by Amazon.com Inc. in a major shake-up for both the homegrown Austin organic grocery chain and the Seattle-based e-commerce giant.

Both companies have major operations in Colorado. Whole Foods has numerous stores across the state, while Amazon operates a "sortation" warehouse in Aurora, is building a fulfillment center there, and just announced plans for another fulfillment complex in Thornton.

Amazon (Nasdaq: AMZN) has agreed to pay $42 per share in cash for Whole Foods (Nasdaq: WFM), or about $13.7 billion, according to today's announcement.

Whole Foods co-founder John Mackey will remain CEO and the grocery company will remain based in Austin as an Amazon division, per the announcement. Whole Foods will also retain its brand name.

Read more at Denver Business Journal.

Copyright 2017 Denver Business Journal


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