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Amazon to Buy Whole Foods for $13.7 Billion

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Amazon, the Seattle-based e-commerce giant, is set to buy healthy supermarket chain Whole Foods for $13.7 billion, Amazon confirmed on Friday.

The company will pay $42 per share for Whole Foods, representing a 27 percent premium on its current share price of $33. Shares of Whole Foods were halted from trading as the market opened on Friday.

“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” Amazon Chief Executive Officer Jeff Bezos said in a statement.

It’s Amazon’s biggest deal ever, easily surpassing its $970 million acquisition of video service Twitch in 2014.
Click to expand...

http://www.thewrap.com/amazon-buying-whole-foods-report/
 
Amazon can easily afford the purchase. Their stock is trading at close to $1000 a share, and the company has a market cap of $475 billion. Shares are up $30 on the news.

What does this get Amazon? Prior to this, there were stories about Amazon looking to get into the brick&mortar business. Maybe build some Amazon stores. Now they have a physical presence in stores that have a positive image.

Here's an article that describes what they might do:

http://www.businessinsider.com/amazon-go-grocery-store-future-photos-video-2017-6


BTW Bezos himself paid $250 million to buy the Washington Post. So he's got some cash.
 
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