Amazon and Whole Foods Market have announced a merger agreement in which the former is to acquire the latter in an all-cash transaction valued at $13.7 billion, including Whole Food’s net debt.
Whole Foods will continue to operate under the Whole Foods Market brand and John Mackey will remain as its CEO at the Austin, Texas headquarters.
Jeff Bezos, founder and CEO of Amazon, was quoted saying, “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.”
Mackey, added, “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.”
