ohn Mackey, Whole Foods Market’s co-founder and CEO, added, “This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers.”
Whole Foods says it will continue to operate stores under the Whole Foods Market brand and “source from trusted vendors and partners around the world.”
Mackey will remain CEO of Whole Foods Market, and the grocer’s headquarters will stay in Austin, Texas.
In fiscal 2016, Whole Foods Market had sales of approximately $16 billion. It operates more than 460 stores in the U.S., Canada and the U.K.
Completion of the transaction is subject to approval by Whole Foods’ shareholders and regulatory agencies in addition to other customary closing conditions. The parties expect to close the transaction during the second half of 2017.
Source: The Shelby Report