Amazon To Buy Whole Foods Markets For Nearly $14 Billion
Online retailer Amazon is getting into the grocery business. The tech giant and retail powerhouse announced it plans to buy Austin, TX-based Whole Foods. The deal which comes out to around $40 per share in an all-cash deal is now up for approval by regulators and Whole Foods shareholders.
Louisiana has seven Whole Foods locations. There is just one located in Acadiana on Ambassador Caffery Pkwy and Settler's Trace. Stock in both companies appear to take the news well:
According to Fox Business, the acquisition of Whole Foods won't likely be official until the later this year. The organic and natural grocery chain has struggled to keep up with the explosive expansion that has happened under current CEO and founder John Mackey. Mackey is expected to remain in the CEO role after the sale is complete.