Amazon, which, according to Forbes, is worth $427 billion, will buy the supermarket for $42 per share, or about $13.7 billion, according to a news release.
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Amazon founder and CEO Jeff Bazos in the release. “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.”
The supermarket will continue to operate under the Whole Foods Market brand, according to the release, and its headquarters will stay in Austin.
Austinites took to social media Friday morning to share their reaction to the news:
— Dot Gov (@Sethersk82) June 16, 2017
— Chelsea Hands (@thatchelseagirl) June 16, 2017
— Amardeep Kahlon (@gigabyte10100) June 16, 2017
John Mackey, the store's co-founder and CEO said the partnership "presents an opportunity to maximize value for Whole Foods Market's shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers."
Completion of the transaction is subject to approval by Whole Foods Market's shareholders, regulatory approvals and other customary closing conditions. The sale is expected to be completed in the second half of 2017.
Posted 8:22 a.m.: According to the Associated Press, Austin-based Whole Foods Market will be purchased by Amazon as part of a multibillion-dollar deal.
BREAKING: Amazon is buying Whole Foods in $13.7B deal.
— The Associated Press (@AP) June 16, 2017
Community Impact Newspaper will update this story as more information is confirmed.