Amazon to Buy Whole Foods for $13.7 Billion

Amazon has a deal to buy Whole Foods, the online retailer announced on Friday.

The all-cash transaction is valued at $13.7 billion, with Amazon assuming Whole Foods’ debt. It comes out to roughly $42 a share — a 27% premium on its closing price on Thursday.

Amazon has moved heavily into the grocery delivery business, offering food through its AmazonFresh service. Whole Foods will still operate stores under its name and will continue to be headquartered in Austin, Texas. CEO John Mackey will also retain his job.

It’s the most Amazon has ever shelled out for a company, topping the $1.7 billion it spent to buy shoe and clothing retailer Zappos in 2009.

“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” Amazon CEO Jeff Bezos said in a statement. “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.”

Shares of Amazon were trading at $988.52 in pre-market trading, a 2.53% jump, while Whole Foods shares were down 6.74% at $33.06. News of the deal took a bite out of stocks at competitors such as Walmart and Kroger.

The deal still needs to gain regulatory approvals and is subject to a Whole Foods shareholders vote. The companies said they expect to close the transaction during the second half of 2017.

More Biz

  • Will Smith arrives at the U.S.

    Will Smith, Japanese Soccer Star Keisuke Honda Launch Dreamers Fund

    Amazon has a deal to buy Whole Foods, the online retailer announced on Friday. The all-cash transaction is valued at $13.7 billion, with Amazon assuming Whole Foods’ debt. It comes out to roughly $42 a share — a 27% premium on its closing price on Thursday. Amazon has moved heavily into the grocery delivery business, […]

  • Matt Sawin Capitol Music Group

    Caroline Names Matt Sawin Executive VP

    Amazon has a deal to buy Whole Foods, the online retailer announced on Friday. The all-cash transaction is valued at $13.7 billion, with Amazon assuming Whole Foods’ debt. It comes out to roughly $42 a share — a 27% premium on its closing price on Thursday. Amazon has moved heavily into the grocery delivery business, […]

  • Universal Music Group

    Universal Music Launches Nigerian Division

    Amazon has a deal to buy Whole Foods, the online retailer announced on Friday. The all-cash transaction is valued at $13.7 billion, with Amazon assuming Whole Foods’ debt. It comes out to roughly $42 a share — a 27% premium on its closing price on Thursday. Amazon has moved heavily into the grocery delivery business, […]

  • Bruno Mars Grammys

    Recording Academy Announces Date, Deadlines for 2019 Grammy Awards

    Amazon has a deal to buy Whole Foods, the online retailer announced on Friday. The all-cash transaction is valued at $13.7 billion, with Amazon assuming Whole Foods’ debt. It comes out to roughly $42 a share — a 27% premium on its closing price on Thursday. Amazon has moved heavily into the grocery delivery business, […]

  • The Matcha Bros

    Ansel Elgort, Diplo, Billie Eilish and Von Miller Invest in MatchaBar Energy Drink

    Amazon has a deal to buy Whole Foods, the online retailer announced on Friday. The all-cash transaction is valued at $13.7 billion, with Amazon assuming Whole Foods’ debt. It comes out to roughly $42 a share — a 27% premium on its closing price on Thursday. Amazon has moved heavily into the grocery delivery business, […]

  • Ron Burkle

    Ron Burkle Sues Lantern Capital Over Weinstein Co. Costs

    Amazon has a deal to buy Whole Foods, the online retailer announced on Friday. The all-cash transaction is valued at $13.7 billion, with Amazon assuming Whole Foods’ debt. It comes out to roughly $42 a share — a 27% premium on its closing price on Thursday. Amazon has moved heavily into the grocery delivery business, […]

More From Our Brands

Access exclusive content