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Amazon moves into real-world stores with $13.7 billion Whole Foods deal


By Lauren Hirsch and Jeffrey Dastin(Reuters) - Inc said on Friday it would buy grocer Whole Foods Market Inc for $13.7 billion in a move that gives the online retailer a physical network of stores to distribute fresh food and other goods to millennials and wealthy consumers.Amazon, which is known for squeezing suppliers and has been experimenting with its own outlets, will take over a natural and organic grocer pioneer brimming with 456 stores and high-end shoppers but struggling to rein in prices and integrate technology.The deal sent shockwaves across the food distribution ...

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First Published: Sat, June 17 2017. 04:07 IST