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Amazon shakes up grocery aisles with $13.7 billion Whole Foods deal

Reuters 

By Lauren Hirsch and Anya George Tharakan(Reuters) - Amazon.com Inc said on Friday it would buy U.S. organic supermarket chain Whole Foods Market Inc for $13.7 billion, including debt, marking the internet retailer's largest deal and biggest foray into the brick-and-mortar retail sector.The deal sent shockwaves across the food distribution market, as Whole Foods' peers and supermarket chains grappled with the prospect of having to compete with Amazon's massive buying power and ability to sell goods at a lower cost.Amazon will gain a footprint of 456 supermarket stores in North America and ...

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First Published: Fri, June 16 2017. 22:30 IST
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