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Friday, June 16, 2017

Implications of Amazon Buying Wholefoods

Discussion in Retailwire:

Amazon Jeff Bezos John Mackey Mergers/Acquisitions Online Retail Supermarkets Whole Foods Market     by George Anderson

It seems like just yesterday — actually, it was just yesterday — that reports were published saying John Mackey had called the people behind Jana Partners, a hedge fund with a nine percent stake in Whole Foods, “greedy bastards” intent on ruining his reputation and forcing a sale of the company he co-founded to make a quick profit. As it turns out, it appears Mr. Mackey and the “bastards” have both won after it was announced this morning that Amazon.com was acquiring Whole Foods in a deal valued at $13.7 billion.

Whole Foods will continue to operate its business under its own banner and Mr. Mackey will remain as CEO of the company. Whole Foods’ headquarters will remain in Austin, TX.

“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy,” said Jeff Bezos, Amazon founder and CEO, in a statement announcing the deal. “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.” ... ' 

And in the Bain&Company:
The Amazon–Whole Foods Deal Means Every Other Retailer’s Three-Year Plan Is Obsolete

by Darrell K. Rigby

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