Amazon has agreed to acquire grocery chain Whole Foods for an estimated $13.7 billion deal. Amazon will pay $42 a share in cash for the organic-food chain, the companies said today. John Mackey, Whole Foods’ co-founder and CEO, will continue to run the business.
According to Crain’s Chicago Business, Whole Foods has been under pressure to find a buyer when investor Jana Partners acquired a stake and began pushing for a sale. The sale to Amazon allows him to maintain his position as CEO and gives Amazon a further reach into the grocery business.