Amazon Announces Plan To Buy Whole Foods For $13.7 Billion

Amazon to buy Whole Foods Market in deal valued at $13.7 billion

Armed with giant warehouses, shopper data, the latest technology and almost endless funds - and now with Whole Foods' hundreds of physical stores - Amazon is set to reshape a US$800 billion grocery market that is already changing rapidly.

They have indicated that they do not plan to automate cashier jobs in the stores, .

The move comes at a challenging time for grocers.

But it was Whole Foods that fell behind as shoppers found alternatives to the organic and natural foods it helped popularize since its founding in 1978.

RICH TARRANT: Consumer purchases in a grocery space is, you know, $600-billion industry that has yet to be massively disrupted by online. "That is the reality today at Amazon, and it will no doubt become the reality at Whole Foods", said UFCW President Marc Perrone in an email.

"We are always concerned when there is some loss of brick-and-mortar stores out there", Mullins said after just hearing of the news early Friday.

On the same day that Amazon made their big acquisition, their main competition Walmart also announced that they were buying Bonobos, a mostly online company that sells menswear. "If shoppers are going to allow a company, a retailer, to pick their meat, their produce and their seafood, Whole Foods is probably at the top of the list of retailers with the best reputation across the country".

Amazon would also look to change Whole Foods' inventory, introducing its own private-label products to replace items deemed too expensive to have mass appeal, the person with knowledge of the matter said.

Rosenstein may need to recuse himself from Russia probe
Since then, Mueller , who served as FBI director before Comey, took over the investigation. "Witch Hunt", Trump wrote on Twitter . Rosenstein appointed Robert Mueller on May 17 as special counsel to head the inquiry into the Russian Federation matter.

Trump may 'terminate' Russian Federation probe's Mueller says president's pal
Rosenstein , who has been on the job for six weeks, said only he could fire Mueller, and only if he found good cause to do so. The regulations that govern the special counsel were issued by the Department of Justice and could be rescinded by DOJ.

Chance of tropical cyclone development in Gulf now 90 percent, forecasters say
It will be the second for the year, however, coming after Tropical Storm Arlene formed over the central Atlantic Ocean in April. As of Saturday afternoon we are still watching a broad area of unorganized showers in the Gulf of Honduras.

Stock prices for some of the nation's largest retailers plummeted Friday.

These three have begun offering some of what Whole Foods offers, forcing the supermarket chain to cut prices.

Whole Foods will continue to operate stores under its brand and will continue to be led by co-founder and chief executive John Mackey, the companies said.

The Amazon.com Inc. (NASDAQ: AMZN) deal to buy Whole Foods Market Inc. However, this should be regarded as mere formality as the deal is expected to go ahead without any hitch.

Almost $1.5T: Amount spent by Americans on food in a year. Whole Foods shares were up just over 27% to the $US42.00 per share acquisition price. The investment firm Jana Partners said in April that it had built up an ownership stake in Whole Foods because it saw ways to address its "chronic underperformance for shareholders".

Amazon's shares were up 3 percent at $993.40, adding more than $14 billion to its market capitalization.

Including his Amazon stock, his stake in the aerospace company Blue Origin and other assets, Bezos is worth about $84.7 billion, according to Bloomberg, making him the second-richest person in the world.

Related News:

  • Deontay Wilder arrested after marijuana found in his vehicle

    Deontay Wilder arrested after marijuana found in his vehicle

    The WBC ruler Deontay Wilder , was arrested in his hometown of Tuscaloosa , Alabama after a traffic stop around 4pm on Wednesday. Meanwhile Bermane Stiverne remains the mandatory challenger for Wilder's prestigious crown.
    Virginia shooter identified as man from Belleville, Illinois

    Virginia shooter identified as man from Belleville, Illinois

    The alleged shooter - identified by two federal law enforcement sources as James Hodgkinson , 66, of Belleville, Ill. - is dead. Sanders later condemned the shooting and said that he had been made aware that Hodgkinson had volunteered for his campaign.

    Israel approves largest West Bank settlements in 25 years

    The plans are at various stages in the process and the units are located in a number of settlements across the West Bank . Almost 400,000 Jewish settlers are estimated to be living in the West Bank along with 2.8 million Palestinians.
  • Mistrial declared in Cosby case after jury deadlocks again

    Mistrial declared in Cosby case after jury deadlocks again

    Constand's attorneys released a statement following the mistrial , thanking both the jury and the prosecutors in the case. She did not comment publicly. "I just want to wish all of the fathers a happy Father's Day", Cosby said.

    Insomniac's Spider-Man game will have different suit options available

    But unlike those two, Sphero's Spider-Man toy focuses more on interacting with kids through actually speaking to them. Watch him react to people passing by, set him to wake you up, or have him guard your room to stop snooping siblings.
    Smith frustrated after second wash-out

    Smith frustrated after second wash-out

    Bangladesh took their time while Smith seemed even to turn down run-scoring opportunities in a bid to speed play up. The rain, however, returned before the field was ready and the match was finally called off around an hour later.
  • NC Congressman Robert Pittenger praises Scalise, asks public for prayers

    A witness who was nearby told reporters the scene was chaotic as police responded. "Their sacrifice makes democracy possible". The popular annual face-off was scheduled for Thursday evening at Nationals Park across the Potomac River in Washington .

    US consumer prices dip 0.1 percent in May

    American consumers forked out a total of US$473.8 billion (RM2 trillion) for the month, 3.8 per cent above May of a year ago . In addition to a drop in energy costs last month, the price of clothing, airline fares and medical care also declined.
    Winning Powerball Ticket Worth $447.8 Million Sold In Riverside County

    Winning Powerball Ticket Worth $447.8 Million Sold In Riverside County

    Lottery officials say the earliest that the single winning ticket sold at Marietta Liquor & Deli can be redeemed is Monday. Alberre says the store just off a highway caters to retirees who live in Sun City and motorists who are passing through.
  • USA  military service members in Afghanistan injured in insider attack

    USA military service members in Afghanistan injured in insider attack

    It is not always clear if the attackers are rogue members of the Afghan forces or are infiltrators wearing Afghan Army uniforms. The US soldiers were evacuated after the "insider attack" a spokesman for the US military command said.
    Facebook wants to use artificial intelligence to block terrorists online

    Facebook wants to use artificial intelligence to block terrorists online

    Artificial intelligence will largely be used in conjunction with human moderators who review content on a case-by-case basis. This is a departure from Facebook's earlier practice of relying on users to flag suspect content for removal.
    OH  triple homicide: 2 college students, mother found dead in bedroom

    OH triple homicide: 2 college students, mother found dead in bedroom

    Wrote the 21-year-old in the bio on her Facebook page: 'Life's too short to sit and wait for luck to come your way '. The girls' stepmother, Sonya Pifer , described her stepdaughters as "great kids" and "great students".


Most liked

Republicans demonstrate hypocrisy over health care legislation
Doctors and hospitals, on the other hand, could face a surge in uninsured patients if millions fewer Americans have health coverage.

Scalise on the mend, now in 'serious' condition
Bailey was spotted on Friday in the Capitol, on crutches and out of uniform, accepting congratulations from fellow officers. Officials said Hodgkinson was carrying notes on which he had written the names of some Republican lawmakers.

Scalise upgraded from 'critical' to 'serious' condition
Though the game pegs Republicans against Democrats , attendees and participating lawmakers showed unity in wake of the shooting. Three others were injured by the gunfire from suspected shooter James Hodgkinson , who was killed by police.

Based Broadcaster Al-Jazeera's Twitter Account 'Suspended'
Disruption [by others] will not stop because the truth terrifies them. Saudi Arabia says around 250,000 Saudis visited Turkey past year .

Burling, Kiwis beat Oracle third time in America's Cup
Because Oracle won the qualifiers, the challenger started the 35th America's Cup match with a negative point. Spithill was over the starting line early, forcing him to drop two boat lengths behind to clear the penalty.

Milan will not sell Donnarumma before next season
Donnarumma, who one year left on his current contract, has informed Milan that he will not be signing a new deal with the club . The Milan Club Poland representatives were seated behind the goal with a large banner that read 'Dollarumma'.

Rickie Fowler leads US Open on day of highs and lows
Fowler, teeing off on the 10th, was quickly into his stride with back-to-back birdies on his second and third holes. Thursday's opening round began with drama off the course after a blimp hovering near the venue crashed.

Sabres Hire Phil Housley As Head Coach
Inducted into the Hockey Hall of Fame in 2015, he becomes the seventh alumnus to serve as the Sabres head coach. Each of his eight seasons in Buffalo rank among the top 10 single-season point totals by a Sabres defensemen.

Trump gives Pentagon power over Afghan troop levels
We can not allow Afghanistan to once again become a launching point for attacks on our homeland or on our allies. The Pentagon had considered a request for roughly 3,000 more troops, mainly for training and advising.

Kroger buys Zionsville Marsh stores
None of the Marsh locations in Anderson were sold through the auction process as of Tuesday and the fate remains unknown. The sales require approval by the bankruptcy court and have to overcome an objection from CVS Health.

Marathon Oil Stock and How It Performed Last Week
It is positive, as 66 investors sold MPC shares while 252 reduced holdings. 116 funds opened positions while 231 raised stakes. Over the last 5 years, Murphy Oil Corporation has averaged a -20.80% YoY EPS growth rate and a -14.80% revenue growth rate.

Apple allows in-app tipping for content creators
Imagine only needing to scam 200 people to make $80,000 a month - Apple is letting someone do just that on the App Store . As he dug deeper to learn more about this app, he found that it routed your web access through a VPN, a private network.

WTI, Brent crude oil futures settle higher
Crude oil futures fell Wednesday morning, after weekly industry data showed a surprise build in US stockpiles. Brent crude, the global oil benchmark, fell 0.74% to $48.36 a barrel on London's ICE Futures exchange.

Primary Tuesday - Polls Open at 6 AM
The attorney general race will have Democrat Mark Herring, the incumbent, facing Republican John Adams in the November 7 election. The race has been framed as a reboot of the Bernie Sanders-Hillary Clinton contest, but the comparison is not a flawless fit.

Rafael Nadal Wins Record 10th French Open
In the 19 times that Nadal has now played Wawrinka , the Spaniard has won 16, winning the match every time he won the first set . And following an historic triumph, the 31-year-old said it was "impossible" to describe his emotions.