Amazon is buying Whole Foods in $13.7B deal

Amazon Will Buy Whole Foods For $13.7 Billion

Amazon.com Inc said on Friday it would buy US organic supermarket chain Whole Foods Market Inc for $13.7 billion, including debt, marking the internet retailer's largest deal and biggest foray into the brick-and-mortar retail sector.

Amazon will pay $42 per share.

Whole Foods had been under pressure from investor Jana Partners, a hedge fund that lobbied for the high-end grocer to seek a buyer to reverse declining share price.

Amazon chief executive and founder 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".

"Whole Foods Market has been satisfying, delighting and nourishing customers for almost four decades - they're doing an incredible job and we want that to continue", Amazon founder and CEO Jeff Bezos said.

Whole Foods will keep operating stores under its name and John Mackey will as CEO, with headquarters in Austin, Texas.

It also shows Amazon's growing interest in groceries.

"Whole Foods Market has been satisfying, delighting and nourishing customers for almost four decades - they're doing an incredible job and we want that to continue", Amazon founder and CEO, Jeff Bezos said in a statement.

FILE - In this October 26, 2005 file photo, shoppers line up outside a Whole Foods Market before it opens for the day in Palm Beach Gardens, Fla.

Amazon and Whole Foods expect to close the deal during the second half of 2017.

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