The Briefing Room
General Category => Economy/Business => Topic started by: SirLinksALot on June 16, 2017, 01:39:41 pm
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SOURCE: CNBC
URL: http://www.cnbc.com/2017/06/16/amazon-is-buying-whole-foods-in-a-deal-valued-at-13-point-7-billion.html (http://www.cnbc.com/2017/06/16/amazon-is-buying-whole-foods-in-a-deal-valued-at-13-point-7-billion.html)
by Sarah Whitten
Jeff Bezos speaking at the New York Economic Club luncheon in New York on Oct. 27, 2016. Amazon is buying Whole Foods in a deal valued at $13.7 billion 20 Mins Ago | 01:16 Just Watched... Amazon is buying Whole Foods in a deal valued at $13.7 billion.
Whole Foods' John Mackey will remain CEO of the grocery store chain after the deal closes, and the store will continue to operate under the Whole Foods brand.
Amazon's offer represents a 27 percent premium to Whole Foods' closing price on Thursday. The deal is expected to close in the second half year.
"This partnership presents an opportunity to maximize value for Whole Foods Market's shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers," Mackey said in a statement.
Whole Foods has been under pressure from Jana Partners hedge fund and money management firm Neuberger Berman, which have called on Whole Foods to sell itself. The investors have criticized Whole Foods for its poor performance, and have suggested the chain could be merged with another grocer.
Amazon has been pushing to expand its online grocery business.
(Excerpt) Read more at above link....
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This should be interesting.
By the way, I'm a fan of both companies.
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Some people are claiming that this should not be allowed to push through citing Anti-Trust concerns.
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This should be interesting.
By the way, I'm a fan of both companies.
Fan too, but with Amazon's rate of ascension, I feel they will be ruling retail at every angle within the next 10 years. (Pretty much the world) This just may be the first of many major Brick and Mortar forays.
A few months ago without thinking I asked a Walmart associate if they had any Amazon Gift Cards. Lady told me the that that is one word in the store no one was allowed to mention.
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"Alexa. Where is the nearest grocery store?"
"There is a Whole Foods 73 miles away."
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What anti-trust? They aren't really in the same business exactly, it's not like two airlines merging.
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Whole Paycheck is more like it.
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"Alexa. Where is the nearest grocery store?"
"There is a Whole Foods 73 miles away."
:laugh:
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"Alexa. Where is the nearest grocery store?"
"There is a Whole Foods 73 miles away."
:silly:
Good one, Sir.
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I like the fact that Whole foods is anti-union but the only thing whole about Whole Foods is it is it a place where you spend your Whole Paycheck . The sell overpriced crap to pretentious posers. Amazon bought a loser.
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Whole Paycheck is more like it.
Yep. Their prices are ridiculous.
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I like the fact that Whole foods is anti-union but the only thing whole about Whole Foods is it is it a place where you spend your Whole Paycheck . The sell overpriced crap to pretentious posers. Amazon bought a loser.
:thumbsup:
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I like the idea of a Whole Foods, though I have stopped shopping there because of inconvenient location and cost. Amazon has a very successful business model and has been getting in to delivery of fresh groceries. Maybe Amazon will improve Whole Foods prices and offer delivery from Whole Foods also.
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I like the fact that Whole foods is anti-union but the only thing whole about Whole Foods is it is it a place where you spend your Whole Paycheck . The sell overpriced crap to pretentious posers. Amazon bought a loser.
We just got one in my home town a few months ago. It's a nice store, but the prices are stupid.
Of course, this is a wealthy town and the parking lot is always full... I prefer to shop at our local Market Basket, a great New England chain which has fewer "specialty" items, but is a hell of a lot cheaper - and the ownership is very pro-America. We also have a Fresh Market not 200 paces from the Whole Foods - and that is a specialty store with lower prices and less snarky attitude.
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We just got one in my home town a few months ago. It's a nice store, but the prices are stupid.
Of course, this is a wealthy town and the parking lot is always full... I prefer to shop at our local Market Basket, a great New England chain which has fewer "specialty" items, but is a hell of a lot cheaper - and the ownership is very pro-America. We also have a Fresh Market not 200 paces from the Whole Foods - and that is a specialty store with lower prices and less snarky attitude.
Do you have a Trader Joe's in your part of town? They are better IMHO and prices are more reasonable as well.
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"Alexa. Where is the nearest grocery store?"
"There is a Whole Foods 73 miles away."
LOL, I was thinking something along the lines of Bezos having a snafu with his Echo Dot. "I need to go shopping at Whole Foods" Echo: "Buying Whole Foods"
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The sell overpriced crap to pretentious posers. Amazon bought a loser.
You got that. Last time I was in one I thought I was at an NPR convention.
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Do you have a Trader Joe's in your part of town? They are better IMHO and prices are more reasonable as well.
They are building one in the next plaza, and it's supposed to open next spring. The closest one to me right now is about 20 miles, and we do make the trip every now and then because they do have good quality stuff at reasonable prices.
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Wall Street is rhapsodizing over this deal. I don't get it, frankly.
Please send me some milk and eggs- just have your drone drop it in the yard. Hmm, maybe buy some stock in businesses that will package the groceries. From an environmental stand point- there might be a huge amount of waste. Hmmm.
Do they really think everyone in the US is going to stop going to the grocery store? I don't.
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catfish wrote:
"A few months ago without thinking I asked a Walmart associate if they had any Amazon Gift Cards. Lady told me the that that is one word in the store no one was allowed to mention."
Hmmmm....
How long until amazon makes a move to buy Walmart?
"I'm make 'em an offa they can't refuse!"
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catfish wrote:
"A few months ago without thinking I asked a Walmart associate if they had any Amazon Gift Cards. Lady told me the that that is one word in the store no one was allowed to mention."
Hmmmm....
How long until amazon makes a move to buy Walmart?
"I'm make 'em an offa they can't refuse!"
I think the Walton family may still be majority shareholders. I am also thinking Bezos realizes that WM is a lethargic dinosaur with maybe a 20 year life expectancy at best.