The limit does not exist with Amazon, clearly. The super-retailer announced that it is buying Whole Foods for a whopping $13.7 billion! Amazon doesn’t plan to change the store’s name, but they do plan to pick up Whole Food’s net debt and but its stock at $42/share. Talk about a good plan!
Although it’s subject to approval by regulators and supermarket shareholders, the deal will be finalized before the top of 2018, according to Forbes.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” Jeff Bezos, the Amazon’s founder 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.”
Not too much is actually changing with Whole Foods as a brand. The company’s CEO, John Mackey will keep his position, and headquarters will remain in Austin, Texas.
“This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers,” John said in a statement.
How are you feeling the new deal, #Roommates!?
Source: Forbes, https://www.google.com/amp/s/www.forbes.com/sites/richardkestenbaum/2017/06/16/why-amazon-is-buying-whole-foods/amp/
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