LONDON--(BUSINESS WIRE)--Online retail giant Amazon just announced its latest purchase of Whole Foods for a staggering US$13.7 billion, posing the largest acquisition deal for Amazon to date. The announcement of this acquisition, not only sends Whole Foods’ and Amazon’s stock shares shooting upwards, but it also sets to generate immense impact for the global food and beverage industry.
BizVibe notes that the acquisition marks Amazon’s latest venture into the grocery and food retailing business, after its ‘Grocery & Gourmet’ segment, AmazonFresh grocery delivery services and Amazon Pantry in certain regions.
The news of this acquisition has already lowered stocks for several major grocery retailers, including Kroger, Walmart, and Costco, whose shares were down by 13.76%, 6.1% and 6.3% respectively after the announcement. What the future once held for both online and physical grocery retailers is sure to be transformed because of this impressive push into the market by Amazon.
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