Amazon.com Inc. is acquiring Whole Foods Market Inc. in an all-cash transaction for $42 a share in a $13.7 billion deal, officials announced Friday.
A Whole Foods store has been proposed on Monroe Avenue in Brighton, but the controversial project remains under the planning stages.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Jeff Bezos, Amazon founder and CEO, in a statement. “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 will operate its stores under its brand going forward and John Mackey will remain as CEO. The grocery retailer’s headquarters will stay in Austin, Texas, officials said.
“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,” said John Mackey, Whole Foods Market co-founder and CEO in a statement.
Shares of Whole Foods Market (Nasdaq: WFM) were trading $42 when the market opened Friday, a jump from $33 at Thursday’s close.
Follow Kerry Feltner on Twitter: @KerryFeltner
(c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-363-7269 or email firstname.lastname@example.org.