Amazon acquiring Whole Foods Market
By Canadian Packaging staff
General Amazon Fortune magazine Whole Foods MarketIt’s Fortune’s 2017 list of World’s Most Admired Companies #2 purchasing Whole Foods Market #28.
SEATTLE & AUSTIN, Texas—Amazon and Whole Foods Market, Inc. have announced both have entered into a definitive merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately US$13.7 billion, including Whole Foods Market’s net debt.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” says Amazon founder and chief executive officer Jeff Bezos. “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 Market co-founder and chief executive officer John Mackey says: “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.”
Whole Foods Market will continue to operate stores under the Whole Foods Market brand and source from trusted vendors and partners around the world. John Mackey will remain as chief executive officer of Whole Foods Market, with the company’s headquarters remaining in Austin, Texas.
Completion of the transaction is subject to approval by Whole Foods Market’s shareholders, regulatory approvals and other customary closing conditions. The parties expect to close the transaction during the second half of 2017.
Founded in 1978, Whole Foods Market is a leading natural and organic foods supermarket, the first national “Certified Organic” grocer, and calls itself America’s Healthiest Grocery Store. In fiscal year 2016, the company had sales of approximately US$16 billion and has more than 460 stores in the U.S., Canada, and the U.K. Whole Foods Market employs approximately 87,000 team members and has been ranked for 20 consecutive years as one of the “100 Best Companies to Work For” in America by Fortune magazine. For more information, visit www.WholeFoodsMarket.com or @WholeFoods on Twitter.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about and follow @AmazonNews.
Image purchased via www.thinkstock.com.
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