Who Owns Whole Foods
Share
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Whole Foods, one of the leading natural and organic grocery stores in the United States, is owned by Amazon.com (AMZN). On June 16, 2017, AMZN announced that it had completed the acquisition of Whole Foods, which made Amazon the owner of the popular grocery chain.
The acquisition was a cash-and-stock deal, worth $13.7 billion. Amazon offered Whole Foods shareholders $42 per share, and the transaction was finalized in less than two months. This made Amazon the largest grocer by market value in the United States.
The purchase of Whole Foods was controversial due to its size and the fact that Amazon, a tech giant, was entering the grocery space. Many viewed it as an attempt by Amazon to dominate the retail industry.
For Amazon, the acquisition gives it access to the upscale, natural, and organic foods market—a growing segment of US grocery spending. It also allows for collaborations across multiple realms, including Alexa-enabled food ordering and delivery, AmazonFresh, and Amazon Prime delivery. Shares of Whole Foods have soared since the acquisition and Amazon has expanded the grocery chain’s reach by opening Whole Foods stores in several cities.
Overall, the acquisition of Whole Foods is one of the biggest acquisitions Amazon has made and could be a major game-changer in the retail industry. It is a strategic move that could propel Amazon to the top of the competitive grocery market and give it unprecedented power and distribution capabilities.