Online retailer and monolith Amazon is closing a deal to purchase Whole Foods later this year. The deal is reportedly worth $13.7 billion dollars. Whole Foods Market recorded a whopping $16 billion in sales last year. The company was founded in 1978 and the whole deal has been confirmed in a press release by Amazon. This marks another move for Amazon into a "Brick And Mortar" store after they opened their own store.

Whole Foods Market

Wholefoods Market began in 1978 under the name SaferWay in Austin, Texas. Two years later they merged with a natural foods grocery store.

In the mid-1980's Whole Foods expanded out of Texas and by the 1990's the company had reached across the country. After 2000 they made their way into Canada and the United Kingdom.

The idea around the store is that they sell natural products made humanely. This has found success in recent years as consumers are looking for more natural, healthier alternatives in their shopping habits that are also good for the environment. The company of Whole Foods is made up of several different stores including the WholeFoods company.

The acquisition by Amazon

Even though it seems that the CEO of WholeFoods was hesitant to see the company sold off, even going as far as calling the investors that wanted to sell the company "greedy bastards," his tune appears to have changed since the deal with Amazon was made.

Calling the partnership an "opportunity" he expressed goodwill and positive sentiment.

This comes at a time when Amazon is attempting other brick and mortar stores like a bookstore and AmazonGo; a store where consumers pick food off of the shelves and then just walk away with it. They also have stores where people can pick up groceries which they purchased online.

Discuss this news on Eunomia

WholeFoods have seen a rise in the competition of their type of grocery store in recent years. With consumers more aware of what to shop for so it would seem that more stores are using healthy and sustainable practices made popular by Whole Foods Market.

As Amazon has been a pioneer in the online retail industry it is only natural that the company takes on one of the pioneers in supermarkets. With the two giants of their respective industries, there may be no roof to what can be accomplished. However, it may take more than hope to secure WholeFoods reputation as a leader in sustainable food practices, natural grocery stores and setting progressive food trends.