Amazon buying Whole Foods in $13.7B deal

Amazon buying Whole Foods in $13.7B deal

In June, Amazon announced plans to acquire Whole Foods for a sizable $13.7 billion in what’s being called a “game-changing” move by CNBC, which first reported the news. The sale is now approved and will close on Monday, August 28.

That is also when the first effects of the deal will be seen in Whole Foods stores around the country. Beginning Monday, Whole Foods will slash prices on a selection of “best-selling grocery staples, including Whole Trade organic bananas, responsibly-farmed salmon, organic large brown eggs, animal-welfare-rated 85% lean ground beef, and more,” said Jeff Wilke, CEO of Amazon Worldwide Consumer, in a press release.

Additionally, some Whole Foods stores will get Amazon Lockers, where customers can pick up or return items ordered from Amazon.com. And down the line, customers with Amazon Prime accounts can expect additional savings at Whole Foods stores, which will adapt Prime for its customer rewards program.

Amazon has long been moving to make its URL dominance an IRL phenomenon: The company’s first brick-and-mortar bookstore in New York City opened on June 1. It’s all part of the Seattle e-commerce giant’s increased influence in U.S. cities, from its massive network of storage warehouses to its new forays into real-world retail.

With this deal, Amazon will muscle fully into the world of real estate, acquiring Whole Foods locations from coast to coast, and stands to cement itprominence in the profitable groceries market, which the company has openly coveted. Though the U.S. retail sector is shrinking overall, companies like Walmart—known for their diversified offerings and low prices—enjoy continued profitability.