Amazon to acquire Whole Foods Market

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Amazon buys Whole Foods Market ((AP Photo/Ross D. Franklin, File))

Amazon is making a big move.

Online juggernaut Amazon is buying Whole Foods in a deal valued at about $13.7 billion, including debt.

"Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy," said Jeff Bezos, Amazon founder and CEO. "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."

"This partnership presents an opportunity to maximize value for Whole Foods Market's shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers," said John Mackey, Whole Foods Market co-founder and CEO.

Amazon.com Inc. will pay $42 per share of Whole Foods Market Inc.

According to the release, Whole Foods will continue to operate stores under the Whole Foods brand. Mackey will remain CEO and headquarters will stay in Austin.

The deal is targeted to close in the second half of the year.

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