Amazon to buy Whole Foods in $13.7B deal

Grocery chain has nearly 20 locations in LA County

TRD LOS ANGELES /
Jun.June 16, 2017 10:30 AM
Whole Foods Market in the East Village (Credit: Getty Images)

Amazon agreed to buy Whole Foods for $13.7 billion in a blockbuster deal that could have a big impact on New York and L.A.’s retail real estate market.

Whole Foods, a grocery store chain, has nearly 20 locations in Los Angeles County, and is widely known as one of the most sought-after retail tenants. The retailer has been struggling with declining sales in recent years and saw its stock price lose half its value since 2013, the Wall Street Journal reported.

In April, Whole Foods announced that it will open its second 365 by Whole Foods store in L.A., on the corner of Pico and Cloverfield boulevards in Santa Monica. The first L.A. 365 store opened in Silver Lake last year.

Amazon, an online retail giant, offers grocery deliveries and buying Whole Foods could open up new ways to reach customers. The company has also been been opening brick-and-mortar stores and recently filed plans to build a 5,200-square-foot store at the Westfield Century City mall.

Whole Foods’ share price surged 27 percent following the news of the acquisition to $41.99. [WSJ]Konrad Putzier


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

arrow_forward_ios
Loading...