Amazon (AMZN) will finalize its planned $13.7 billion acquisition of Whole Foods Market on Monday August 28, 2017 and immediately drop prices at Whole Foods to make the high-end grocery chain’s goods “affordable for everyone,” according to a press release from Amazon and Whole Foods released Thursday.
Shoppers will find lower prices on bananas, avocados, baby kale, lean ground beef, organic salmon, and large brown eggs. Eventually, paid Amazon “Prime” subscribers that shop at Whole Foods will receive discounts and other benefits.
Price changes for both staples and more high-end foods are scheduled to go into effect as soon as Amazon closes the Whole Foods deal on Monday.
The Amazon Prime program, with about 60 million members, will become Whole Foods’s customer-rewards program. Deals at the supermarket chain will be available through Amazon Prime.
Shares of Kroger, the largest supermarket chain in the United States and the new owner of Mariano’s, fell by more than 8% on Thursday, August 24, 2017.
Whole Foods’ 365 grocers, which has already implemented robotics and other efficiencies at stores, and Whole Foods will keep their names. The FTC approved the Amazon-Whole Foods merger Wednesday, August 23, 2017.
So, starting Monday, @amazon will start slashing prices at @WholeFoods https://t.co/1Lpo7iI3hD pic.twitter.com/yovZcXhUWg
— Fast Company (@FastCompany) August 25, 2017
Amazon says it wants to make "organic food available for everyone" as it prepares to slash prices at Whole Foods https://t.co/ieD2jwm62z
— Wall Street Journal (@WSJ) August 25, 2017
Amazon: We're lowering Whole Foods prices on Monday https://t.co/rXy3ilZZ0H pic.twitter.com/rTtKHOJdLI
— CNN (@CNN) August 24, 2017
The discounts at Whole Foods could help solve Amazon Prime's biggest headache https://t.co/EW1FtfEx6p
— CNBC (@CNBC) August 24, 2017
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Amazon, Whole Foods to close acquisition on Monday https://t.co/J3bJsDucSD
— FOX Business (@FoxBusiness) August 24, 2017
Amazon's price cuts on food are leaving retail rivals bracing for the impact https://t.co/xhuXQbdgZK pic.twitter.com/CCqEmvT0ns
— Bloomberg (@business) August 25, 2017
Cramer Remix: Believe it or not—not all of retail is falling victim to Amazon https://t.co/ba1nLf2gn7
— CNBC (@CNBC) August 24, 2017
For this retailer, Amazon isn't the biggest problem https://t.co/HV1mt0YcTI
— CNBC (@CNBC) August 25, 2017