Updated Aug. 24, 2:20 p.m.
Amazon and Whole Foods Market announced Thursday that the sale of the grocery chain to the tech giant will close on Monday, Aug. 28.
That same day, Whole Foods will lower the prices of some of its best-selling items, including Whole Trade bananas, organic avocados and organic large brown eggs, according to a news release.
As part of the sale, Amazon Prime will replace the Whole Foods existing customer rewards program, though a timeframe for that switch has not yet been announced.
Posted Aug. 23, 5:45 p.m.
Whole Foods Market shareholders voted Wednesday morning to approve the sale of the company to Amazon. The U.S. Federal Trade Commission also signed off on the $13.7 billion deal, saying in a statement that it would not continue its investigation into whether the acquisition would substantially lessen competition or constitute an unfair method of competition.
Amazon has said it expects the deal to be closed by the end of this year.
The e-commerce giant announced it would be purchasing Whole Foods Market in June.
“Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades—they’re doing an amazing job, and we want that to continue,” Amazon founder and CEO Jeff Bezos said in a news release at the time of the announcement.
The purchase is in line with Amazon’s recent dive into brick-and-mortar retail. The company, which is worth $427 billion according to Forbes, opened eight Amazon bookstores and has five more in the works—three in California, one in New York and one in Washington.
With its acquisition of Whole Foods, Amazon is poised to disrupt the supermarket industry, change how customers purchase groceries and increase data on purchasing behavior online.
The Whole Foods headquarters will remain in Austin, and the grocery chain will continue operating under the Whole Foods Market brand, according to the same release.
Community Impact Newspaper has reached out to Whole Foods for comment.