Published: Thu, June 22, 2017
Sci-tech | By Jose Becker

Bizarre Story of How Amazon and Whole Foods Deal Came to Be

The announcement of the takeover last week caused shares in other major US retailers including Target, Costco, and Walmart to plunge, as the 460 Whole Foods storefronts in the US, Canada, and United Kingdom become Amazon's.

Online grocery delivery can be notoriously hard, especially when it comes to the timely delivery of perishable goods, so here are five ways the purchase of Whole Foods will give Amazon an edge in this fight. "Books are lot more homogenous", she said, noting that a hardcover Harry Potter book is the same at Amazon - though Amazon can sell it at a lower price. The latter in particular, which is the largest membership-only warehouse club in the US, could be hurt considerably by the Amazon-Whole Foods deal.

Whole Foods shares rose as much as 2.2 percent on Monday - suggesting hopes the company might fetch a higher price - and were still up 1.3 percent at $43.25 in afternoon trading.

As part of its $13.7 billion agreement to buy Whole Foods, Amazon will let Mackey continue to run the company.

According to analysts at Cowen & Co., Amazon, which is expected to be the ninth largest grocery retailer in the USA this year thanks to Amazon Fresh, would become the third largest with the acquisition of Whole Foods. "He'll be very careful tinkering with anything that could hurt the value of the brand". Meanwhile, competitors like Wal-Mart, Kroger, and Supervalu went down 7%, 14.5%, and 17% respectively. I think you're gonna see Whole Foods Market evolve in leaps and bounds. According to Madeline Hurley, IBISWorld senior analyst, this acquisition means Amazon will be able to reach more consumers than ever before.

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Whole Foods also might draw a rival offer from one or more large private-equity firms because "there's a tidal wave of money that's sloshing around" in that industry, said Eric Schiffer, chief executive of the Patriarch Organization, a private-equity firm that isn't involved with Whole Foods.

The Whole Foods Market in Midtown New York is seen on June 16, 2017. "I had this dream (LAUGHTER) a year and a half ago". This was a savvy way to do that and it's expected that Whole Foods stores will be retrofitted to allow shoppers to buy online and pickup at their local store-a solution to the "last mile" expense of home delivery. But with the incredible growth of Amazon under Jeff Bezos, now the second richest man in the world, it's hard not to imagine that this purchase will result in an industry disruption in the near term.

"We will be joining a company that's visionary", Mackey said.

Nan Griffith, a retired teacher, shops at a Whole Foods outside Detroit because of its selection of vegan products, including niche brands that aren't widely available elsewhere.

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