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Old 06-16-17, 09:20 AM   #1
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Amazon is buying Whole Foods for $13.7 billion

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Amazon (AMZN) is buying Whole Foods (WFM) for $13.7 billion, the companies announced on Friday.

In a statement Friday morning, the online retailer said it would buy the high-end grocer for $42 per share, more than the $33.06 per share Whole Foods closed at on Thursday.

The deal is Amazon’s biggest deal ever, topping the $1.2 billion the company paid for online footwear retailer Zappos in 2009.

After the announcement, Whole Foods shares were up 27% to trade at $41.99 per share. Amazon shares were up 3.4% in early trade on Friday to trade at around $996 per share.

Amazon CEO Jeff Bezos said, “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.”

John Mackey, the CEO of Whole Foods, will remain CEO of the company and its headquarters will remain in Austin, Texas. The companies expect the deal to close in the second half of this year.

Earlier this week, Mackey made headlines after calling activist hedge fund investors Jana Partners “greedy bastards” in an interview with Texas Monthly. Jana Partners earlier this year disclosed it had acquired an 8.3% stake in Whole Foods and said it would seek talks with company management.

Back in April, Bloomberg reported that Amazon had weighed a bid for Whole Foods in 2016, though Bloomberg reported that the company’s discussions “never turned into a concrete plan.”

For Whole Foods shareholders, the last few years have been trying. Over the last five years, shares of the grocery are down 30%, and the stock’s closing price on Thursday was roughly 50% below the more than $60 per share the stock traded at back in October 2013.

Amazon’s deal for Whole Foods comes as the online retailer has made ever-larger moves into the grocery and fresh-food space, which has been a battleground for online retailers that have been trying to shakeup the grocery space for years.

This deal also follows Amazon’s initial forays into its own physical retail locations, as the company has opened up a few bookstores across the country, most recently in New York City. Also recall that back in December 2016, Amazon released a video previewing what it called “Amazon Go” stores, in which customers would enter the store, pick out goods, and simply leave with their Amazon accounts being automatically charged via mobile phone.

Amazon’s desire, then, to move its retail operations offline and into more traditional brick-and-mortar channels has been made clear in recent years.

Following the announcement of Amazon’s deal for Whole Foods, shares of Walmart (WMT) were down about 6% after the retailer concurrently announced a deal to acquire menswear brand Bonobos for $310 million cash.

Walmart has in recent months begun to more directly challenge Amazon’s business, namely its Prime membership offering by giving customers smaller minimum order sizes to qualify for free two-day shipping. Last year, Walmart bought online retailer Jet.com for $3 billion.

Shares of grocer Kroger were down 13% in early trading after the Amazon-Whole Foods deal was announced. Sprouts Farmers Market, a smaller organic grocer that competes with Whole Foods, was also down 11% in early trade on Friday.
https://www.yahoo.com/finance/news/a...130753335.html


I have 2 WF's in my area but never shop there, because the prices are outrageous. Maybe Amazon will lower prices at some point or wrap it up into their Amazon Fresh banner?
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Old 06-16-17, 09:26 AM   #2
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Re: Amazon is buying Whole Foods for $13.7 billion

I hope they don't lower their prices. Whole Foods is the most reliable grocery store around here. It's what you pay for. Regular grocery stores are hit and miss in their produce, meat, and pre-made food departments.
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Old 06-16-17, 09:30 AM   #3
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Re: Amazon is buying Whole Foods for $13.7 billion

I hope they can make some changes to WF to be competitive with other health food grocery stores, that market is getting crowded. In my area we have Sprout's, Trader Joes, Natural Grocers, and Whole Foods.
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Old 06-16-17, 09:57 AM   #4
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Re: Amazon is buying Whole Foods for $13.7 billion

WF is going to expand what they carry, ie not just groceries.

Theres going to be a 'home living' section that incorporates technology and some other interesting items as well as drone chutes.
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Old 06-16-17, 10:06 AM   #5
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Re: Amazon is buying Whole Foods for $13.7 billion

I assume this means that Whole Foods now has Amazon's "no line" checkout thing, where you can just go in, grab your stuff, and leave?

Everybody try it tonight and report back.
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Old 06-16-17, 10:21 AM   #6
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Re: Amazon is buying Whole Foods for $13.7 billion

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Originally Posted by Bluelitespecial View Post
I hope they can make some changes to WF to be competitive with other health food grocery stores, that market is getting crowded. In my area we have Sprout's, Trader Joes, Natural Grocers, and Whole Foods.
Sprouts in my neighborhood has terrible produce, it's cheap but there's a reason for that, it goes bad three minutes after you get home. Trader Joe's has hoodwinked people into thinking that they are a health food grocery store, they're not really. And yeah, WF is ridonkulously expensive.
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Old 06-16-17, 12:03 PM   #7
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Re: Amazon is buying Whole Foods for $13.7 billion

The wife has owned a fair amount of WF stock for years now. Just found out that she sold it off pretty recently. Grrrr.
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Old 06-16-17, 12:09 PM   #8
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Re: Amazon is buying Whole Foods for $13.7 billion

I can't wait to hear zyzzle's opinion on this.
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Old 06-16-17, 12:44 PM   #9
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Re: Amazon is buying Whole Foods for $13.7 billion

Everybody needs a Wegman's near them. I barely use Trader Joe's and Whole Foods now after Wegman's opened up down the road from me.
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Old 06-16-17, 12:56 PM   #10
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Re: Amazon is buying Whole Foods for $13.7 billion

The WF near me is in a shopping mall! I shit you not. I've never been. I'm not going to fight the crowds in the mall parking lot to buy fucking groceries. Their management must be crazy.
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Old 06-16-17, 01:01 PM   #11
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Re: Amazon is buying Whole Foods for $13.7 billion

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The WF near me is in a shopping mall! I shit you not. I've never been. I'm not going to fight the crowds in the mall parking lot to buy fucking groceries. Their management must be crazy.
Ever been to a Trader Joe's? I'm pretty sure their slogan is "Parking Spaces? What Parking Spaces?"
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Old 06-16-17, 01:01 PM   #12
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Re: Amazon is buying Whole Foods for $13.7 billion

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Originally Posted by LurkerDan View Post
Sprouts in my neighborhood has terrible produce, it's cheap but there's a reason for that, it goes bad three minutes after you get home. Trader Joe's has hoodwinked people into thinking that they are a health food grocery store, they're not really. And yeah, WF is ridonkulously expensive.
Care to elaborate?
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Old 06-16-17, 01:03 PM   #13
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Re: Amazon is buying Whole Foods for $13.7 billion

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Originally Posted by LurkerDan View Post
Sprouts in my neighborhood has terrible produce, it's cheap but there's a reason for that, it goes bad three minutes after you get home. Trader Joe's has hoodwinked people into thinking that they are a health food grocery store, they're not really. And yeah, WF is ridonkulously expensive.
I've observed that all of these stores have not-so-healthy foods incorporated into their healthy foods. TJ's does carry healthy foods (i.e., quality foods). Yes, I can find some stuff that isn't good to eat on a normal basis there, but I can do the same at Whole Foods and Sprouts.

Overall, these three stores are much better than going to a typical grocery store, because you're not bombarded by mostly processed food aisles.

One thing about expanding a store's offering, is that it normally attracts more people, while driving the regulars away. I don't have a good forecast for Amazon getting a hold of Whole Foods unless they have a real idea of their consumers, and hopefully, a little bit of empathy going into this venture.

But there's a big misconception out there that people want to eat healthy (or are healthy) who shop at these stores. Most do not. I'd say 60% of the shoppers are overweight (or in some cases even underweight), and the stuff they have in their baskets reflects this. These are the people who pay for everyone else to shop at these stores...which is why these stores carry products to satisfy their fat and underweight asses. If these stores did not carry such products...you wouldn't have such stores, as the demand is seriously low in the US.
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Old 06-16-17, 01:03 PM   #14
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Re: Amazon is buying Whole Foods for $13.7 billion

Trader Joe's isn't a health food store. Their foods aren't all organic, they don't skew healthy, aren't low fat, aren't low calories, etc; they're just "Environment Friendly." which I think people get confused.

They basically just sell their own discount brands of products that are generally high quality for generally cheaper prices. It's the nicer version of Aldi (and they're owned by Aldi North).

It's why they're known for their Two Buck Chuck wines, cheap and tasty prepared meals and TV dinners, their nuts, candies, and cookie butters. I buy their dog treats as well, they're dirt cheap ($2/bag) and my pup loves them.

Goddammit, I need to go to Trader Joe's this weekend.

Last edited by RichC2; 06-16-17 at 01:11 PM.
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Old 06-16-17, 01:14 PM   #15
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Re: Amazon is buying Whole Foods for $13.7 billion

Healthy foods do not need to be "low in fat" or "low in calories". It's how they are prepared, produced, and what ingredients are in them that make a distinction between the "less healthy" foods.
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Old 06-16-17, 01:15 PM   #16
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Re: Amazon is buying Whole Foods for $13.7 billion

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Healthy does not mean "low fat" or "low in calories".
I was just covering multiple definitions for what's interpreted as "healthy" these days. It's does come off as being better quality, regardless.
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Old 06-16-17, 01:20 PM   #17
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Re: Amazon is buying Whole Foods for $13.7 billion

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I can't wait to hear zyzzle's opinion on this.
I was thinking the same thing.

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Everybody needs a Wegman's near them. I barely use Trader Joe's and Whole Foods now after Wegman's opened up down the road from me.
Wegmans is awesome.
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Old 06-16-17, 01:20 PM   #18
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Re: Amazon is buying Whole Foods for $13.7 billion

Trader Joe's started out selling wine then branched into other stuff. Yeah, I don't think they ever tried to be the local Healthy Food Stores.
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Old 06-16-17, 01:22 PM   #19
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Re: Amazon is buying Whole Foods for $13.7 billion

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Sprouts in my neighborhood has terrible produce, it's cheap but there's a reason for that, it goes bad three minutes after you get home. Trader Joe's has hoodwinked people into thinking that they are a health food grocery store, they're not really. And yeah, WF is ridonkulously expensive.
Are you talking about their organic produce? Because isn't that part of the whole Organic thing? That being, organic produce tends to rot faster because there are no additives or genetic mods to make it last longer?
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Old 06-16-17, 01:25 PM   #20
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Re: Amazon is buying Whole Foods for $13.7 billion

We gave up on WF years ago, just way overpriced. Plus, one time we bought some raw grains and we think there were moth larvae in them and we were infested with grain moths for literally *years*. Every time we thought they were gone, we'd find another egg sack in our food.


We much prefer TJs, and even if it's not all "healthy-healthy", it's still better food and I like being able to get cheap wine.
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Old 06-16-17, 01:29 PM   #21
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Re: Amazon is buying Whole Foods for $13.7 billion

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Ever been to a Trader Joe's? I'm pretty sure their slogan is "Parking Spaces? What Parking Spaces?"
Yeah, and they have the same number of shoppers as any other store, but 1/3 of the floor space. I don't mind shopping there but sometimes it feels like a mosh pit.
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Old 06-16-17, 01:32 PM   #22
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Re: Amazon is buying Whole Foods for $13.7 billion

TJ's goes back decades (late 50's I think), and they were a convenience store by a different name. The wine additions were not initially a main seller, and actually have been cranked up over the last decade or two, because they realized a lot of adults wanting new wines but at a a cheap price to go with their moderately-priced daily meals.
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Old 06-16-17, 01:37 PM   #23
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Re: Amazon is buying Whole Foods for $13.7 billion

Yep, Pronto Market, it was like a 7-11 back then.
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Old 06-16-17, 01:43 PM   #24
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Re: Amazon is buying Whole Foods for $13.7 billion

I guess that makes sense for older locations, but all the TJs around here opened in the last five years!
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Old 06-16-17, 01:44 PM   #25
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Re: Amazon is buying Whole Foods for $13.7 billion

And I agree, I feel like TJs are fire hazards due to the mosh-like nature of shopping there on weekends.
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