Tuesday, 21 November, 2017

Amazon to Acquire Whole Foods for $13.7 Billion

A Tesco plastic bag blows in the wind Up in the air Tesco shares rose this morning
Conrad Doyle | 19 June, 2017, 20:17

Ocado declined to comment on the Amazon-Whole Foods takeover, but a source close to the company said it could work in its favour, igniting interest in its services from USA grocers who will want to ensure their digital operations can compete. "Additionally, over the past year, Whole Foods has also pushed their private label offering, especially with the roll out of their spin-off store 365 by Whole Foods". Amazon shares gained 2.9 percent to $992.11. Amazon opened its first Amazon Go test store in Seattle earlier this year.

Amazon will also likely offer cheap grocery delivery options, she said, which would put pressure on grocers to follow suit.

"A business like Whole Foods brings with it numerous crucial ingredients the e-commerce giant has been missing in its other forays into food and drink".

Amazon would also look to change Whole Foods' inventory, introducing its own private-label products to replace items deemed too expensive to have mass appeal, the person with knowledge of the matter said.

Amazon has crucified brick and mortar retailers by forcing them to battle online, where Amazon dominates in logistics and distribution technology. Mr. Bezos could easily extend the benefits of his company's popular Prime membership into goods and services at grocery stores, thus giving them additional reason to buy even more from Amazon. "So, theoretically, you could get five-minute delivery". In order for Amazon to make some serious headway in the grocery space, it's vital for it to increase its footprint in tradition retail, and can't just depend on its online presence only. Could Amazon's acquisition hasten the job's demise? It has $7 billion in cash and cash equivalents on its balance sheet and could easily borrow billions more.

So, instead of taking years to build up the grocery capacity, the addition of Whole Foods immediately adds about 460 stores in the United States, Canada, and the U.K. The deal is expected to close in the second half of this year. (NASDAQ:AMZN) has made a bid to buy Whole Foods Market (NASDAQ:WFM). "Instead of a Whole Foods" stocker letting you know that that a tasty new variety of mango has arrived, you'll hear the news from a robot in your kitchen. "We're playing offense", he said. "I'm shopping here anyways", shopper Alina Gura said at a Whole Foods in West Hartford, Connecticut. The company's same-store sales - a closely watched measure - have declined for seven straight quarters.

The tech giant's $13.7 billion acquisition of the upscale, niche grocery chain was described as a seismic event by industry analysts, despite Whole Foods' relatively small size.

Ryne Misso of the research firm Market Track said a customer who buys fresh fruit regularly at Whole Foods might be offered a deal on blenders and serving bowls.

Not anymore. In one fell swoop, Amazon founder Jeff Bezos charged into the supermarket business with the $13.7 billion acquisition of Whole Foods. "That's my baby. I'm going to protect my kid, and they've got to knock Daddy out if they want to take it over".

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