Amazon is buying Whole Foods in a $13.7B deal

Amazon to Buy Whole Foods in Deal Valued at $13.7 Billion

But if customers know that what they are getting is the same as what they'd get at the local store, they are more likely to try it out. It could have built up its groceries business without acquisitions, said Neil Saunders, managing director of GlobalData Retail, but that would have been costly and time-consuming.

Amazon is buying Whole Foods in a stunning move that gives it hundreds of stores across the US - a brand-new laboratory for radical retail experiments that could revolutionize the way people buy groceries.

John Mackey, Whole Foods Market co-founder and CEO, said the he agreed to the deal because it is "an opportunity to maximize value" for the company's shareholders. Whole Foods traded in the mid-$30 range for May and the first part of June. "This is where retailers need to find ways to match it and ensure they are differentiating themselves from their competitors", said Fujitsu's Karia.

Whole Foods, founded in 1978, saw its stock peak in 2013 at $65.24.

Amazon will pay $42 per share. In the last fiscal year alone, Whole Foods posted sales of $16bn.

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Amazon said it will continue to operate Whole Foods stores under that name as a separate unit of the company.

"This deal is a clear signal of intent from Amazon to dive deeper into the grocery sector". The deal is the latest big move for Amazon and its charismatic chief executive Jeff Bezos, who grew Amazon from a small online bookseller in the 1990s into a global retail behemoth that delivers a wide range of goods and creates award-winning entertainment broadcasts.

"Amazon's newest move positions it to thrive and is created to successfully beat competitors to the punch in grocery".

Kroger shares slumped 11 percent, United Natural Foods Inc tumbled 17 percent, Sprouts Farmers Market Inc sank 11 percent.

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