Amazon to lower Whole Foods prices on Monday

(AP) Amazon will shut its $thirteen.7 billion buyout of Entire Meals Market Inc. on Monday and plans to chop costs on grocery staples.

Beginning Monday, Entire Meals will supply decrease costs on staples together with bananas, eggs, salmon, beef, and different merchandise. Wanting forward, the Seattle firm hopes to offer Amazon Prime members particular financial savings and different in-retailer advantages.

Additionally, sure Entire Meals merchandise can be obtainable by means of, AmazonFresh, Prime Pantry and Prime Now.

“We’re decided to make wholesome and natural meals reasonably priced for everybody. Everyone ought to have the ability to eat Entire Meals Market high quality – we’ll decrease costs with out compromising Entire Meals Market’s lengthy-held dedication to the very best requirements,” stated Jeff Wilke, CEO of Amazon Worldwide Shopper.

“To get began, we’re going to decrease costs starting Monday on a number of greatest-promoting grocery staples, together with Entire Commerce natural bananas, responsibly-farmed salmon, natural giant brown eggs, animal-welfare-rated eighty five% lean floor beef, and extra. And that is just the start – we’ll make Amazon Prime the client rewards program at Entire Meals Market and constantly decrease costs as we invent collectively. There’s vital work and alternative forward, and we’re thrilled to get began.”

Entire Meals shareholders accredited the deal Wednesday, and the Federal Commerce Fee stated it will not block the deal. Inc. can pay Entire Meals shareholders $forty two per share, marking an 18 % premium from its inventory worth the day earlier than the tie-up was introduced on June sixteen.

“It’s been our mission for 39 years at Entire Meals Market to convey the very best high quality meals to our clients,” stated John Mackey, Entire Meals Market co-founder and CEO. “By working along with Amazon and integrating in a number of key areas, we will decrease costs and double down on that mission and attain extra individuals with Entire Meals Market’s excessive-high quality, pure and natural meals. As a part of our dedication to high quality, we’ll proceed to increase our efforts to help and promote native merchandise and suppliers. We will’t wait to start out displaying clients what’s attainable when Entire Meals Market and Amazon innovate collectively.”

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