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Amazon to Acquire Whole Foods for $13.7 Billion

  • Deal allows outspoken Whole Foods co-founder to remain CEO
  • Activist investor Jana Partners has pushed grocer to seek deal
Bloomberg business news

Amazon Makes Brick and Mortar Play on Groceries

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Amazon.com Inc. will acquire Whole Foods Market Inc. for $13.7 billion, a bombshell of a deal that catapults the e-commerce giant into hundreds of physical stores and fulfills a long-held goal of selling more groceries.

Amazon agreed to pay $42 a share in cash for the organic-food chain, including debt, a roughly 27 percent premium to the stock price at Thursday’s close. John Mackey, Whole Foods’ outspoken co-founder, will continue to run the business -- a victory after a fight with activist investor Jana Partners that threatened to drive him from power.