Sign up below to be added to our mailing list for the latest news updates, access to exclusive contents, and more!
Is Amazon getting deeper into the grocery business?
Multiple media outlets are reporting that the online retail giant has announced that it will be buying Whole Foods.
Amazon will pay $42 per share.
The total will be $13.7 billion in what is being touted as the largest deal for Amazon, Bloomberg reported.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, 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,” Amazon founder and CEO, Jeff Bezos said in a statement.
Amazon had looked at the grocer last year, but initially decided not to make an offer, The Austin American-Statesman reported.
Founded in Austin in 1978, Whole Foods has 465 stores worldwide and 87,000 employees.
According to Fortune’s annual study, Amazon is the second highest ranked most admired companies. Whole Foods comes in at 28.