your password has been reset successfully, Please login again.

Amazon to acquire Whole Foods Market for $13.7 Billion

Amazon to take over US grocer Whole Foods for $13.7 Billion in all-cash transaction.
BY BEx Bureau
BusinessEx
Jun 17, 2017

Amazon plans to diversify its product offering and enhance its operations in groceries. With the focus on the same, the e-commerce major is in discussions to acquire US grocer Whole Foods Market with an estimated amount of $13.7 billion, as per company statement revealed. This deal will become Amazons largest deal till date.

Amazon sees eye to eye with the deal and is ready to disburse $42 per share in cash to get hold of Texas-based Whole Foods and debt of approximately 27% premium to the stock price is also included.

This collaboration will affect both online and offline Companys competing in the same industry. This sell-out of business by Whole Foods was made because of the pressure created by various buyers after Jana buys 8% stake in the company. John Mackey, CEO of Whole Foods get to keep his job even after the acquisition by Amazon.

This partnership presents an opportunity to maximise value for Whole Foods Markets shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience, and innovation to our customers, John Mackey said.

Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthily, Jeff Bezos, CEO of Amazon said.

Please add your Comment
SIMILAR News
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 19, 2018
Ananth Narayanan, Chief Executive Officer of Myntra, will continue to lead the team. ...More
By Vaishnavi Gupta
November 16, 2018
This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul a ...More
By Vaishnavi Gupta
November 14, 2018
True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votoranti ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 12, 2018
With this acquisition, Mphasis will increase its end-to-end capabilities in the public cloud domain, ...More
By Vaishnavi Gupta
November 12, 2018
This acquisition will help Mumbai-listed AGC to add over $600 million in annual revenue and about 3, ...More
By Vaishnavi Gupta
November 09, 2018
The acquisition is in line with the company's strategy to boost the value for its stakeholders throu ...More
By Vaishnavi Gupta
November 03, 2018
Viithiisys, with this acquisition, will expand its product portfolio and list of clients. ...More
By Vaishnavi Gupta
November 02, 2018
Post acquisition, W12 Studios will be a part of TCS Interactive, the digital division of the IT serv ...More
By Vaishnavi Gupta
November 01, 2018
The fresh funds will be used by Turms to expand its product categories, hire tech talent and launch ...More
By Vaishnavi Gupta
October 31, 2018
The funds raised will be used by Duroflex to expand to new markets across India. ...More
By Vaishnavi Gupta