Today it was revealed that the online retail giant Amazon will be making moves to increase their market share in the shopping market.
It has been reported that they are doing this with an acquisition of theUS, Canada and the UK-based supermarket Whole Foods for $13.7 billion. It is thought that they are making this acquisition to further develop their Amazon Fresh and Amazon Go services, both of which are services that sell groceries.
It has been reported that investors have already stated that the game will be a huge game changer for the industry.
In total, Whole Foods has 460 stores across US, Canada and the UK, all of which employ around 87,000 people.
So this is a pretty huge acquisition. The founder and chief executive of Amazon, Jeff Bezos said the following about it:
“Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy.”
“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.”
As a result of this news, Whole Foods’ stock rose around 27% and Amazon climbed by another 3.4%, so the response seems to be pretty positive.
We will update you about this news as it develops further.