Retail

Amazon to buy Whole Foods Market for $13.7 bn

Photo: REUTERS

(AFP) Amazon reached an agreement to acquire upscale US grocer Whole Foods Market for $13.7 billion (€12.3 billion), including debt, the companies announced Friday.

Whole Foods, which has faced pressure from activist investors, will continue to operate stores under its brand and will be led by co-founder and chief executive John Mackey, the companies said.

The deal is expected to close in the second half of 2017.

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