Online retail giant Amazon is buying grocer Whole Foods in a $13.7bn (£10.7bn) deal.
Amazon is buying the group in an all-cash deal that will also include Whole Foods’ debt. It will be the e-commerce giant’s largest-ever acquisition.
Whole Foods will continue to operate under the Whole Foods brand. John Mackey will continue as chief executive of Whole Foods with its headquarters remaining in Austin, Texas.
The move will help Amazon position itself at the forefront of the online grocery market.
The deal is expected to close in the second half of this year.
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