SEATTLE �� Amazon.com is buying Whole Foods Market for $13.7 billion, its biggest acquisition ever and a huge move into the grocery business it's been trying to crack for a decade.
The deal, expected to close in the second half of this year, gives Amazon 460 high-end stores across the U.S., in Canada and in the U.K.
Amazon agreed to pay $42 per share for the Austin, Texas,-based grocer in an all-cash transaction, a 27 percent premium over Thursday's closing stock price.
Whole Foods, which made its name retailing organic and fresh products, had been struggling of late against competition from Costco Wholesale, Wal-Mart, Trader Joe's and other grocers.
Whole Foods will keep its brand and John Mackey, its current CEO, will remain in place at the company's Austin headquarters.
