"We're determined to make healthy and organic food affordable for everyone", said Jeff Wilke, chief executive of Amazon Worldwide Customer.
As part of the deal, Amazon will pay Whole Foods shareholders $42 for each share they own.
Amazon is wasting no time putting its stamp on Whole Foods. In fiscal year 2016, the Company had sales of approximately $16 billion and has more than 460 stores in the United States, Canada, and the United Kingdom. Starting Monday, the grocery chain will offer discounts on a range of kitchen staples, from organic bananas and eggs to farmed salmon and ground beef.
Amazon says it does not plan to lay off any Whole Foods employees or implement any Amazon Go technology into stores-which will continue to operate under the Whole Foods name.
Certainly the hand-wringing's only just begun about what this means, but Amazon and Whole Foodsannounced today that their merger is officially all set.
The companies are planning to invest in logistics and merchandising as a way to lower Whole Foods'costs. But it was obvious that Amazon buying Whole Foods was going to be a huge deal, so expect even more changes as time goes on. Amazon also said that it will start selling Whole Foods brand products on its website.
Amazon has its work cut out to make sure Whole Foods doesn't fall victim as well. The company said it will place lockers - delivery points for online Amazon orders - in select Whole Foods stores, and try other in-store pickup and return options. A Morgan Stanley survey earlier this month found that Whole Foods prices were down slightly from a year ago, but that they still averaged roughly 15% higher than regional supermarkets.
Comedian John Oliver, host of HBO's "Last Week Tonight", ridiculed Whole Food's pricing in a memorable 2015 sketch. It's estimated that half of American households have an Amazon Prime membership.
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