Amazon to Acquire Whole Foods for $13.7 Billion
Nick Turner, Selina Wang and Spencer Soper reporting for Bloomberg Tech:
"Amazon.com Inc. will acquire Whole Foods Market Inc. for $13.7 billion, a bombshell of a deal that catapults the e-commerce giant into hundreds of physical stores and fulfills a long-held goal of selling more groceries."
How does this help Amazon in the near future?
Amazon has been dipping their toe into physical retail and pushing hard to grow their fresh food business with Amazon Fresh and other offerings. Whole Foods provides a powerful network with local food producers and dramatically grows Amazon's retail footprint
What does this mean for Amazon in the distant future?
It's hard to bet against Amazon. 😄