Amazon buying Whole Foods, making strong move into groceries

A Whole Foods Market is seen in Woodmere Village, Ohio, on March 27, 2014. (AP Photo/Tony Dejak)

By The Associated Press, June 16, 2017 

NEW YORK — Online juggernaut Amazon is buying Whole Foods in a deal valued at about US$13.7 billion, a strong move to expand its growing reach into groceries.

Amazon.com Inc. will pay $42 per share for Whole Foods Market Inc., including debt. That marks an 18 per cent premium to Whole Foods’ closing price on Thursday.

The deal comes a month after Whole Foods announced a board shake-up and cost-cutting plan amid falling sales. The grocery store operator was also under pressure from activist investor Jana Partners.