Amazon's acquistion of Whole Foods will make some groceries cheaper
The two companies' services will begin blending after the deal closes Monday.
Amazon announced today that its acquisition of Whole Foods will close on Monday August 28th and the finalized deal will come with a few perks to both the grocery chain's and Amazon's customers.
First, starting on Monday, prices on a slew of Whole Foods items will drop. Products that will see a price cut include Whole Trade bananas, organic avocados, organic large brown eggs, organic responsibly-farmed salmon and tilapia, organic baby kale and baby lettuce, animal-welfare-rated 85% lean ground beef, creamy and crunchy almond butter, organic Gala and Fuji apples, organic rotisserie chicken and 365 Everyday Value organic butter. And additional items will continue to be discounted in the future.
Further, once the two companies are more thoroughly integrated, Amazon Prime will become the Whole Foods customer rewards program and Prime members will get added discounts and other benefits. Additionally, products under Whole Foods brand labels, such as 365 Everyday Value, will be available for purchase through Amazon.com, AmazonFresh, Prime Pantry and Prime Now. And Amazon will further blend the two markets by introducing lockers at select Whole Foods stores to which customers can ship Amazon.com purchases. They'll also be able to return Amazon purchases at Whole Foods stores.
"We're determined to make healthy and organic food affordable for everyone. Everybody should be able to eat Whole Foods Market quality – we will lower prices without compromising Whole Foods Market's long-held commitment to the highest standards," Jeff Wilke, CEO of Amazon Worldwide Consumer, said in a statement. "There is significant work and opportunity ahead, and we're thrilled to get started."
