Online retail giant Amazon just made a major retail move by announcing it’s acquiring organic grocer Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion.

Whole Foods Market in April reported its sixth consecutive quarter of declining sales. The supermarket chain focuses on organic foods without artificial preservatives, colors, flavors, sweeteners and hydrogenated fats.

The deal, subject to customary closing conditions, should be completed during the second half of this year. The acquisition includes Whole Foods Market’s net debt as well.

Whole Foods Market stores and brand will live on and John Mackey will remain the company’s CEO. Whole Foods Market’s headquarters will stay in Austin, Texas.

Jeff Bezons, Amazon’s founder and chief executive, said:

Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy. Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades—they’re doing an amazing job and we want that to continue.

As Statista noted, the move gives Amazon almost as many stores as Apple: Whole Foods currently has 456 stores worldwide versus 496 Apple Stores across 21 countries.

The online retailer entered the grocery market in 2007 with the launch of AmazonFresh. In other words, Whole Food products will be available for online ordering through AmazonFresh.

Whole Foods Market is the United States’ first certified organic grocer. The company is ranked #28 on Fortune’s list of World’s Most Admired Companies for 2017.

  • Jamessmooth

    Fun. I’m kind of excited to see how this turns out.

  • Somehow “6th consecutive quarter of declining sales” and “people love Whole Foods markets” seem a bit funny.

    I wonder if Amazon plans on just keeping them open and running them as normal or somehow integrating them into amazon so if there’s a Whole Foods in your area you can order fresh groceries online?

  • Eliijah Moss

    Guess Amazon wasn’t playing about the “grab what you want and pay later” concept

  • zebonaut

    I see the end of the checkout line. Instant scan of the entire cart. Or one card at entry.

  • AwesomeSauce

    That means Amazon Fresh will be delivering in my area soon. yay.

  • M_Hawke

    “they’re doing an amazing job and we want that to continue.” LOL, yes, six consecutive losing quarters IS an amazing job. He wants that to continue?

  • M_Hawke

    “Where’s the cereal?”
    “Next to the Kindle Fire shelf.”
    “Thanks.”
    “You’re welcome. Here’s a tip for your next visit: If you have a question, just ask Alexa, who is strategically placed all over the store.”
    “Cool, thanks!”

    • zouggar lyes

      hhhhhhh

  • Agneev

    Jeff: “Alexa, get me something from Whole Foods.”
    Alexa: “Buying Whole Foods”.
    Jeff: “Sh*t”.