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Amazon buying Whole Foods Market for $13.7 billion

17 June 2017

Amazon, meanwhile, will be able to use hundreds of Whole Foods stores as distribution hubs - not just for delivering groceries but as pickup centers for what customers order online.

Amazon is buying Whole Foods for $13.7 billion, and that could be bad news for Instacart.

The second-largest holder was the Deep Value ETF (DVP), which had 8.45% of its assets in Whole Foods.

Mr Saunders said the deal is "potentially terrifying" for rivals.

But as for Bezos, this simply adds another element to his involvement in a broad swath of different sectors of the business landscape. As Digital Journal wrote about Slack, "the purchase would be hugely significant for Amazon, a company seeking to grow beyond its online retailer roots".

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Produce section in a Whole Foods Market. These are likely to be higher income households that traditionally spend the most on cuts of meat and buy expensive brands.

The deal reinforces the need for Canadian grocery chains to develop their e-commerce and home delivery solutions, wrote Irene Nattel, an RBC Dominion Securities Inc. analyst, in a note.

And because customers can buy foods and bulk items like toilet paper from a single retailer, discount retailers such as Costco, Target and Walmart should feel threatened, too.

Activist investor Jana Partners has been pushing Whole Foods to find a buyer since building a stake in the company earlier this year.

Most of IN doesn't have a Whole Foods store nearby. Amazon officials have stated in the past they want to expand into groceries.

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In 2015, the grocery store was accused of overcharging customers in NY, and, over the years, it has been roundly mocked for the price of some of its items. Shoppers skip the checkout line, and their Amazon accounts get automatically charged.

Whole Foods has 13 Canadian locations, which are mostly in the Greater Toronto Area and B.C.'s Lower Mainland. "This news is a reminder of that remarkable pace, and there is no doubt this will give many consumers different and potentially better options". Its stock peaked in 2013 at $65.24. The stock is up more than 31% so far this year.

Tech stocks (-0.2%) also ended negative as Apple fell 1.4%, extending its loss for the week to 4.5%.

FILE - In this May 9, 2007 file photo, customers are seen outside a Whole Foods Market in Dallas.

When it raised $400 million in March, Instacart said it operated in 35 markets and had 135 partnerships with grocery retailers around the country.

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Amazon buying Whole Foods Market for $13.7 billion