The acquisition is expected to close towards the end of the second quarter or the beginning of the third quarter of Wal-Mart's fiscal year ending January 2018, the company said.
Amazon has agreed to pay $42 per share in cash for Whole Foods, a 27% premium on the Austin, Texas-based grocer's closing share price on Thursday. "Whole Foods Market has been satisfying, delighting and nourishing customers for almost four decades - they're doing an awesome job and we want that to continue."E-commerce has led to massive declines in retail purchases throughout all product channels in the past decade".
Amazon's deal to buy a U.S. grocery chain signals a significant threat to food retailers.
Amazon's almost $14 billion deal for Whole Foods will have huge ramifications for the biggest players in the grocery business. The Seattle-based company recently was granted a patent for technology that would block shoppers from comparing prices from their mobile devices while they're in stores.
He sells hunting gear online and says Amazon pushes businesses to slash prices, so he's not making enough money to grow his company.
"It's pharmacy. It's having the ability to put stores that are similar to Apple stores inside Whole Foods", he said. So, no - you won't be greeted by robots when you go inside a Whole Foods outlet.
Amazon's ownership will also likely result in lower prices at Whole Foods, whose expensive products earned it the nickname "Whole Paycheck". Stone sees the possibility that Whole Foods CEO John Mackey could do what he's wanted to do, expand the chain to about 1,000 stores from its current stable of more than 460.
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Wal-Mart has thus far parried Amazon's advances by paying $3.3 billion for online marketplace Jet.com previous year. Access to Whole Foods' warehouses and stores could mean better deliveries and a better position with which to compete with retail chains such as Kroger, Walmart, and Target. "Usually acquisitions are about financial extraction from a business, but this was a brilliant bypass around Jana, an activist investor".
"Assuming the deal passes regulatory muster, the near future of Whole Foods shopping could well involve never walking down a single aisle", Alba wrote.
"Dominant players like Walmart, Kroger, Costco, and Target now have to look over their shoulders at the Amazon train coming down the tracks", O'Shea said.
The deal comes after Seattle-based Amazon spent almost a decade trying to find a way into the fresh-food delivery business through various endeavors, without much success. Eleanor McCarthy, who said she lives "near Newburyport", has a son who works for Amazon in Los Angeles.
Well, we certainly weren't expecting to hear this morning that Amazon plans to acquire Whole Foods for $13.7B.
Walmart, which has the largest share of the USA food market, has already been pushing harder into e-commerce to build on strength in its stores and groceries. "It's a warning shot for the food retail industry that competition likely heightens on top of an already challenging backdrop".