Headlines

Whole Foods Shareholders Approve Amazon Deal

Shareholders approve the $13.7 billion acquisition

Published

7 years ago

August 24, 2017

Whole Foods (Austin, Texas) shareholders voted yesterday in approval of a deal for the company to be purchased by Amazon (Seattle) for $13.7 billion.

While specific details have not yet been made available about what changes customers might expect if the deal is finalized, the deal is expected to help Whole Foods cut costs, develop a loyalty program and innovate the grocery chain. The acquisition will also provide Amazon with valuable details about how customers behave offline, reports Chicago Tribune.

Whole Foods’ Chief Executive Officer John Mackey said that the relationship with Amazon “was truly love at first sight.”

The deal still has to get approval from government regulators but is expected to close before the end of the year.

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