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Amazon to complete acquisition of Whole Foods Market on Monday

Amazon has announced that it will complete its acquisition of natural and organic food retailer Whole Foods Market on 28 August.

FOOD & DRINK

Amazon to complete acquisition of Whole Foods Market on Monday

Amazon has announced that it will complete its acquisition of natural and organic food retailer Whole Foods Market on 28 August.

It also revealed that Whole Foods Market will offer lower prices starting Monday on a selection of best-selling grocery staples such as salmon, bananas and avocados.

In addition, Amazon and Whole Foods Market technology teams will begin to integrate Amazon Prime into the Whole Foods Market point-of-sale system, and when this work is complete, Prime members will receive special savings and in-store benefits.

Jeff Wilke, chief executive of Amazon Wordwide Consumer, said: “We’re determined to make healthy and organic food affordable for everyone. Everybody should be able to eat Whole Foods Market quality – we will lower prices without compromising Whole Foods Market’s long-held commitment to the highest standards.

“To get started, we’re going to lower prices beginning Monday on a selection of best-selling grocery staples, including Whole Trade organic bananas, responsibly-farmed salmon, organic large brown eggs, animal-welfare-rated 85% lean ground beef, and more. And this is just the beginning – we will make Amazon Prime the customer rewards program at Whole Foods Market and continuously lower prices as we invent together. There is significant work and opportunity ahead, and we’re thrilled to get started.”

After technical integration work is complete, Amazon Prime will become Whole Foods Market’s customer rewards programme and will provide Prime members with special savings and other in-store benefits.

In addition, Whole Foods Market’s private label products will be available through Amazon.com, Amazon Fresh, Prime Pantry and Prime Now.

Amazon said it will be making its Amazon Lockers available in selected Whole Foods Market stores. Customers will be able to have products shipped from Amazon to their local Whole Foods Market store for pick up or send returns back to Amazon during a trip to the store.

John Mackey will remain as chief executive of Whole Foods Market following the acquisition and its headquarters will remain in Austin, Texas. 

Mackey said: “By working together with Amazon and integrating in several key areas, we can lower prices and double down on that mission and reach more people with Whole Foods Market’s high-quality, natural and organic food. As part of our commitment to quality, we’ll continue to expand our efforts to support and promote local products and suppliers.”

Founded in 1978, Whole Foods Market had sales of approximately $16 billion in the 2016 financial year and has more than 460 stores in the US, Canada and the UK. Stores in the UK are situated in Camden, Cheltenham, Clapham Junction, Fulham, Glasgow, Kensington, Piccadilly Circus, Richmond and Stoke Newington.

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