Amazon's acquisition of Whole Foods to be completed Monday

Amazon's acquisition of Whole Foods to be completed Monday
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Amazon announced that its acquisition of Whole Foods will be completed on Monday, just days after the deal received federal approval.

The e-commerce behemoth said that starting Monday Whole Foods will start offering lower prices on certain products, like bananas, eggs and salmon.

“We’re determined to make healthy and organic food affordable for everyone,” Amazon Worldwide Consumer CEO Jeff Wilke said in a statement on Thursday. “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.”

Amazon announced that its Prime membership service will soon become Whole Foods’ new customer rewards program and that certain Whole Foods-brand groceries will be available for purchase on Amazon’s website.

“By working together with Amazon and integrating in several key areas, we can lower prices and double down on that mission and reach more people with Whole Foods Market’s high-quality, natural and organic food,” said Whole Foods CEO John Mackey, who will remain in the post after the acquisition closes. “As part of our commitment to quality, we’ll continue to expand our efforts to support and promote local products and suppliers.”

The $13.7 billion deal was approved by the Federal Trade Commission on Wednesday afternoon after officials decided to close an investigation into any anti-competitive side effects posed by the arrangement. The deal was first announced in June.