Amazon Takes Deeper Dive Into Groceries With Whole Foods Purchase: Patch PM

METRO DETROIT, MI — Amazon is buying struggling organic grocery chain Whole Foods Market - which has seven metropolitan Detroit locations - in a deal that is expected to be completed later this year for some $13.7 billion. Earlier this year, the Texas-based grocer was the subject of takeover rumors by Albertsons.

Whole Foods, which bills itself as the “clean food” grocer, has seen its shares fall some 45 percent since October 2013, according to a Fortune.com report. Whole Foods’ Michigan locations include two in Ann Arbor, with other stores in Detroit, West Bloomfield, Rochester Hills, East Lansing and Troy. The Austin, Texas-based company has 365 stores nationwide. Read the rest of the story here.

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