The E-commerce giant Amazon.com has bought the Whole Food Market chain of retail stores. With this step, the company has entered into the world of Retail Stores chain. The Amazon and Walmart were trying to buy the Whole Food Market from more than one year. Now, the Amazon has bought the Whole Food Market for whooping $13.7 Billion.
The news of this deal sent a big shockwave in the e-commerce and the Offline retail store’s industry, as the Amazon is now entering in the Food Retail chain stores industry. The whole U.S. grocery food industry is in the shock with this huge deal by Amazon.com of the Whole Food Markets. Now, the Amazon.com will now use the Whole Food Market stores as the test center for newest technologies as they were trying in their Physical Bookstores and shops. The chain of the retail branches of the Whole Food Market will help Amazon to expand their testing abilities and also to generate extra revenue in the Retail Grocery business.
The Amazon.com and the Walmart were fighting from last one year to buy this company. The Whole Food Market was struggling to keep up with their competitors like Walmart and other stores even with the extensive network of over 400 stores in the United States. Now, the Walmart was trying to acquire the Whole Food Market to expand their business and simply, to eat up the competition. Well, now the Amazon is the highest bidder and bought the company. With the news of this acquisition, the stocks of Walmart, Target, Costco, and Kroger went down up to 13 percent in the trading sessions. The Amazon offers $42 per share of the Whole Food Market, which is nearly 27 percent premium to the stock price of the company as of Thursday.