Whole Foods Market, a grocery chain known for its organic and healthy products, was founded in Austin, Texas in 1980. Since then, the company has become one of the largest natural and organic food retailers in the US. In 2017, it was acquired by Amazon for $13.7 billion, marking one of the largest acquisitions in Amazon’s history.
The acquisition was seen as a strategic move by Amazon to increase its presence in the grocery retail industry. Prior to this purchase, Whole Foods had stores in 43 states across the US and Canada.
With Amazon’s purchase, it expanded its reach even further into these markets. Additionally, Whole Foods’ already-established relationships with suppliers and producers would have given Amazon access to a larger variety of products that could be sold through their online marketplace.
The acquisition has also had a major impact on the way Whole Foods does business. Since 2017, Amazon has implemented several changes to Whole Foods stores including introducing new technology such as cashier-less checkout systems and using artificial intelligence (AI) to improve customer service. Additionally, Amazon has also worked to lower prices of certain items at Whole Foods stores to make them more competitive with traditional grocery stores.
In addition to its physical stores, Whole Foods now offers an online delivery service through its partnership with Amazon Prime Now which allows customers to order groceries online and have them delivered within two hours. This service is available at select locations throughout the US and is seen as another way for Amazon to capitalize on their purchase of Whole Foods by expanding its delivery offerings.
Overall, it is clear that Amazon’s acquisition of Whole Foods has had a huge impact on both companies. By taking over control of the store chain, Amazon has been able to expand its reach into new markets while also taking advantage of existing relationships with suppliers and producers that had already been established by Whole Foods.
Additionally, they have implemented several changes such as introducing new technologies and lowering prices in an effort to further compete with traditional grocery stores. It is safe to say that Yes!, Whole Foods is now owned by Amazon.