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Amazon to buy Whole Foods for $13.7 billion

By TechTaffy Desk

Amazon and Whole Foods Market have entered into a definitive merger agreement, under which Amazon will acquire the grocery chain in an all-cash transaction valued at approximately $13.7 billion.

Whole Foods Market will continue to operate stores under the Whole Foods Market brand, with John Mackey as CEO. The company’s headquarters will remain in Austin, Texas.

The acquisition is expected to close during the second half of 2017, subject to customary closing conditions.

[Image courtesy: Whole Foods]

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