Amazon to pay $13.7 billion for US largest supermarket chain

logo russianconstruction.com
Amazon to pay $13.7 billion for US largest supermarket chain
Tags: Photo source:

Amazon, an American online retailer, has reached an agreement to buy Whole Foods Market supermarket chain for $13.7 billion.




According to a press release from Amazon, the company will pay $42 per share of Whole Foods. After completion of the merger, which is scheduled for the second half of the year, Whole Foods will retain its name, headquarters in Austin (Texas) and top management headed by CEO John Mackey.

The deal will be the largest one on the record of Amazon, which cash reserves amount to about $21.5 billion as of the end of March 2017.

Whole Foods is the largest U.S. supermarket chain specializing in natural foods. Founded in 1978, the company operates more than 460 supermarkets in the United States and Canada, it employs about 87,000 people



SIMILAR PUBLICATIONS




Partners