Amazon buys Whole Foods grocery chain for £10.7bn
Amazon is to acquire supermarket chain Whole Foods in an all-cash deal worth 13.7 billion US dollars (£10.7 billion), in the internet giant's biggest foray into the grocery sector to date.
The companies announced on Friday that Amazon will buy Whole Foods for 42 US dollars per share (£32.80), but will continue to operate stores under the Whole Foods brand.
Whole Foods currently has 460 stores across the US, Canada and the UK, with nine of them in Britain.
The deal, which includes Whole Foods Market's net debt, will see John Mackey remain as chief executive of the grocer and maintain its headquarters in Austin, Texas.
Amazon founder and chief executive Jeff Bezos said: "Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy.
"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."