Big news from Amazon this morning as they have officially announced their plans to acquire Whole Foods, the high-end organic food market for a staggering $13.7B in cash. This marks the largest company acquisition from Amazon following their purchases of Zappos for $1.2B in 2009 and Twitch for $970M back in 2014.
The actual transaction is slated to be complete by the end of the year while retaining their current Whole Foods CEO, John Mackey as well as their headquarters in Austin, Texas. All Whole Foods stores will continue to operate independently for the extended future.
A purchase of this size surely has a larger plan in mind with Jeff Bezos likely having a long-term pipeline that either focuses on the expansion of their existing AmazonFresh service (which is currently only available in select cities) or even something to do with their Amazon Go store concept that was teased last year: