Amazon extends grocery business by buying Whole Foods Market for $13.7B

Amazon is buying Whole Foods Market for $13.7B, $42 a share in Cash. Whole Foods Market (WFM) share traded at $33.03 market close on Thursday. Amazon(AMZN) share is up almost 3% to $996 and WFM share is up 26% up to $41.90.

Amazon CEO Jeff Bezos said, “Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy.

John Mackey, the CEO of Whole Foods, will remain CEO of the company and its headquarters will remain in Austin, Texas. The companies expect the deal to close in the second half of this year.

This deal will help Amazon extend in the grocery business, Amazon is trying to tap. Last Year Amazon launched “Amazon Go”, advanced grocery solution future.

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