Whole Foods Promises Lower Prices When Amazon Deal Closes Monday

High-end grocer Whole Foods Market, known for its organic and at times pricey food offerings, will slash its prices next week.

A Whole Foods Market in Houston
Kyle Hagerty/Bisnow
A Whole Foods Market In Houston

Amazon’s $13.7B acquisition of Whole Foods is expected to close Monday, the e-commerce behemoth announced in a release. Once the transaction is finalized, Whole Foods will lower prices to be more affordable for shoppers. The grocer will cut prices on some of its best-selling products, and Amazon Prime members will benefit from special savings throughout the store.

“We’re determined to make healthy and organic food affordable for everyone. Everybody should be able to eat Whole Foods Market quality — we will lower prices without compromising Whole Foods Market’s long-held commitment to the highest standards,” Amazon Worldwide Consumer CEO Jeff Wilke said in a statement.

The announcement caused another stir in the stock market, sending shares of The Kroger Co. down nearly 2.4%, Sprouts Farmers Inc. down 2.5% and Wal-Mart Stores Inc. down 0.8%, Bloomberg reports.

Amazon also plans to use Whole Foods' physical footprint as distribution pickup locations for its online shoppers by installing lockers at stores. Whole Foods has about 450 stores in its portfolio, and this deal gives Amazon access to all of them and control of the grocer’s distribution network — complete with store backrooms and cold storage.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Blue Owl Reportedly Planning Data Center REIT

HUD Wants To Make It Easier To Bring Private Capital Into Public Housing

Private REIT Closes $650M Refinancing Of 549-Property Daycare Portfolio

Buc-ee's Convenience Store Star Fades As Visits Slip

Walker & Dunlop On Why The Housing Market Is More Balanced Than It Appears

Retailers Charging Ahead With EV Stations Despite Policy Pullback

Suburban Chicago Shopping Center Sells For $122M In Major Retail Deal

U.S. Office Sales Show 31% Year-Over-Year Growth

Data Center Demand Doubles, Fueling New AI Boomtowns

Hall Of Fame Running Back Emmitt Smith Sued Over Failed Texas Solar Project

Becknell Taps JLL IPT Veteran To Boost REIT's Selling Group

American Healthcare REIT On A $1.5B Senior Housing Buying Spree