It was the bombshell news no one saw coming.
Retail juggernaut Amazon has agreed to buy “natural” grocery chain Whole Foods for nearly $14 billion. News of the purchase immediately sent Amazon’s stock up while Whole Foods’ stock practically leap-frogged skyward.
Amazon has made no secret of wanting a bigger piece of the grocery store market and this deal will give them that, and then some. Whole Foods currently has U.S. stores in 20 states, as well as stores in the U.K and Canada.
Both company founders have formally acknowledged the sale. Jeff Bezos, who founded and still helms Amazon said, “Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue.”
Whole Foods Founder John Mackey put it this way: “This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers.”
Editor’s Note: This is a breaking news story with limited information available at this time.