Amazon to buy Whole Foods in $13.7B deal

Grocer has 15 stores in South Florida

Miami /
Jun.June 16, 2017 03:00 PM

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

The deal gives Amazon the reach of about 450 Whole Foods locations in 42 states.

The grocer has 15 stores in South Florida and 11 prime locations in New York City. Whole Foods 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.

Amazon, an online retail giant, offers grocery deliveries and buying Whole Foods could open up new ways to reach customers and expand its market share. The e-commerce company signed a deal to open a third distribution center in Miami-Dade County last week, an 800,000-square-foot warehouse at Miami-Opa Locka Executive Airport. Amazon also has warehouses in Doral and near Miami International Airport.

Whole Foods has stores in Coral Gables, Pinecrest, Miami Beach, North Miami, downtown Miami, Pembroke Pines, Fort Lauderdale, Wellington, Palm Beach Gardens, Aventura, Pompano Beach, Davie, West Palm Beach, Coral Springs and Boca Raton.

Whole Foods’ share price surged 27 percent following the news of the acquisition to $41.99, while competitors like Kroger Co., Target Corp. and Costco Wholesale Corp.’s shares all fell on Friday. [WSJ]TRD


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