Saturday, 17 June 2017


Amazon Buy Whole Food in $13.4 Billion

Recently Amazon Buy Whole Food in #13.4 Billion.

Whole Foods Market is an American Supermarket chain exclusively featuring foods without artificial preservatives, flavors, sweeteners,  colors, and hydrogenated fats. It is the United States (U.S) first certified organic grocer, which means it ensures, to national organic product standards, organic integrity of the heterogeneous products from the time they reach stores until they are placed in a shopping cart. It opened on September 20, 1980, in Austin, Texas. its current headquarters. As of September 2015, it has 91,000 employees and 431 supermarkets in the United States, Canada, and the  United Kingdom, and has its main produce procurement office in Watsonville California.

On June 16, 2017, it was announced that would acquire Whole Foods for $13.7 billion at $42 per share, a 27 percent premium to its previous closing price. Following the conclusion of the deal at the end of 2017, Whole Foods will become a subsidiary of Amazon, widely expanding its presence as a physical retailer. It is an all cash deal - the biggest transaction ever for the e-commerce player.


Reference: Wikipedia



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