Amazon and Walmart Purchase Whole Foods and Bonobos, Respectively

 Amazon and Walmart logosSEATTLE and BENTONVILLE, Ark.—Amazon and Walmart made strategic purchases today to better compete with each other. Amazon looks to expand its foothold in both the grocery category and physical locations with the acquisition of Whole Foods Market, while Walmart continues to expand its online presence with the purchase of mens’ etailer Bonobos.
Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt. Whole Foods reported sales of approximately $16 billion in fiscal year 2016 and has more than 460 stores in the United States, Canada and the United Kingdom.