Amazon to acquire Whole Foods for $13.7bn

Amazon to acquire Whole Foods for $13.7bn

Amazon to acquire Whole Foods for $13.7bn

About a year ago, Amazon revealed plans for AmazonGo, a futuristic grocery store in which there are no check-out lanes.

And because this is Amazon we're talking about, there was also no shortage of speculation about where the online retailer may be headed next.

Amazon, known for its low prices and selling virtually everything, including groceries, will likely take market share from competitors and hurt their profit margins if they have to lower prices to compete.

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"Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy", Amazon CEO Jeff Bezos said in a press release. If you're into running numbers, that means Amazon essentially got Whole Foods for free after you calculate the market capitalization, which comes out to around $15.6 billion on Friday. Similar results could be gained from both the Whole Foods acquisition and any purchase of Slack that might be brewing.

At the time of this writing, the price of Whole Foods stock had jumped 27 percent since the news of the acquisition broke on Friday morning, meaning people were clearly a little more eager to become shareholders following this major announcement.

In 2015, Amazon opened a physical bookstore in Seattle and now operates a total of eight locations nationwide.

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That, in turn, could help Amazon do better with pricing and promotions, branding and the overall store experience, said Robert Hetu, a retail analyst at Gartner. Customers would have needed an Amazon account and a smartphone running the Amazon Go app to shop there.

That's frustrated investors saddled with a drop of almost 43 percent from the start of 2014 through Thursday, while the rest of the stock market marched 32 percent higher to record heights. "It is strategic, since Whole Foods has excellent locations and that will allow Amazon to use this infrastructure, with the storage locations that it already has to keep its promise in delivering fresh products in a short time range", Fraile said. I don't think there's any direct Amazon Whole Foods direct competition.

The damage didn't stop there: Food companies themselves, like Hershey and Campbell Soup, also slumped because of investor concerns that Amazon will do for their products what it does for everything else - cut prices ruthlessly.

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John Mackey, CEO of the chain, will remain in his position even after the deal closes.

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