Friday, June 16, 2017

Amazon to buy Whole Foods Market for $13.7B

NEW YORK -- Amazon reached an agreement to acquire upscale US grocer Whole Foods Market for $13.7 billion, including debt, the companies announced Friday.

Whole Foods, which has faced pressure from activist investors, will continue to operate stores under its brand and will be led by co-founder and chief executive John Mackey, the companies said. The deal is expected to close in the second half of 2017.