The Short of It

Amazon wants to buy Whole Foods

By J.A. HaglJune 20, 2017

06/20/17

Amazon has it’s eye on Whole Foods Market, an Austin-based organic grocery store. The e-commerce company made a bid of $13.7 billion, $42 a share, on Friday—which made Whole Foods’ stock rise 28 percent. Whole Foods operates 460 stores which rang up $16 billion in sales in 2016. Sales have dropped at the “whole paycheck” store since organic offerings have increased at other cheaper grocery chains. For Amazon, a purchase of Whole Foods would give it a firm footing in the grocery store sector. Only 7 percent of Americans order groceries online but 52 percent of those who order groceries online use Amazon Prime.