Amazon’s Whole Foods deal approved by US regulator
The online evolution of the grocery market continues at pace, with the approval by US regulators of Amazon's dramatic takeover of health food supermarket Whole Foods, along with the store network's shareholders.
25 August 2017
Amazon’s dramatic takeover of Whole Foods, which sent shockwaves across the global supermarket industry earlier this year, has overcome a major hurdle. The takeover has been approved by the U.S. Federal Trade Commission, whose job it is to ensure that such a massive change would not harm competition in the sector or create otherwise unfair trading conditions.
At the other end of the spectrum, the deal was also approved by Whole Foods’ shareholders.
In response to both of these moves, Amazon stated that it expects the deal to be closed sometime before the end of the year.
In taking over Whole Foods, the online retail giant will gain control of almost 500 stores in the US (and some in the UK), giving it a foothold in the grocery industry. Just what Amazon boss Jeff Bezos’ plans are once that happens are unclear, but the other major brands are preparing for war, and the global industry is watching.