Amazon-Whole Foods merger approved: Here's what it means to you

by Frankie Norman August 26, 2017, 1:13
Amazon-Whole Foods merger approved: Here's what it means to you

Amazon said it will keep the markdowns coming, and that Amazon Prime members will get additional discounts at Whole Foods.

Jeff Wilke, CEO of Amazon Worldwide Consumer, says Amazon and Whole Foods are determined to make healthy natural and organic foods affordable for all consumers. The first products to have their prices axed include organic bananas, farmed salmon, baby kale and lettuce, almond butter, apples, chicken, organic large brown eggs, 85 percent beef, and others kitchen mainstays.

Shoppers will find lower prices at Whole Foods stores, including seven in the Twin Cities, starting Monday when Amazon closes on its almost $14 billion acquisition of the grocery chain.

The announcement, made Thursday by Amazon and Whole Foods, also noted that more price cuts are to follow.

Prime offers plenty of discounts, faster shipping for less, video streaming options and more.

John Mackey, who co-founded Whole Foods Market and will continue to lead it as chief executive after the deal completes, said: "It's been our mission for 39 years at Whole Foods Market to bring the highest quality food to our customers".

While most of Whole Foods 460 stores are in the USA, its 9 United Kingdom stores will also see price cuts - news of which knocked Tesco, Morrison's and Sainsbury's share prices this morning.

However, Amazon will waste no time putting its stamp on Whole Foods.

Whole Foods shareholders approved the deal Wednesday, and the Federal Trade Commission said it would not block the deal. It will also make Whole Foods' private label products available on its website, on AmazonFresh, on Prime Pantry, and Prime Now.

And Amazon Lockers will be placed in "select" Whole Foods stores.

Amazon and Whole Foods announced the agreement on June 16.

She added that the lower Whole Foods prices could hurt higher-end and specialty grocers like Trader Joe's and Publix, along with Target's grocery aisles.

We'll have to wait and see on Monday just how these cuts impact the price of a typical basket of shopping.

Amazon is planning to join its physical stores with his online business through turning it membership program Prime into a rewards program for Whole Foods, providing more savings to its customers.


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