Online retail giant Amazon will expand its grocery game in a big way after acquiring Whole Foods for $13.7 billion, according to multiple reports.
Whole Foods CEO John Mackey, who had reportedly been under pressure to broker a sale, will remain in his role, CNBC reported.
The $13.7 billion cash deal equates to $42 per share and is expected to close in the second half of 2017. It will be the largest single acquisition for Jeff Bezos and Amazon, CNBC said.
Whole Foods Market has locations in Paramus, Edgewater, Ridgewood and Closter.