Whole Foods | KERA News

Whole Foods

Amazon is cutting the prices of bananas, butter, organic eggs, and other best-selling staples at Whole Foods' 470 stores, promising customers lower costs and targeting the grocer's "Whole Paycheck" nickname. The online giant also says its Amazon Prime members will get special prices and perks.

Amazon's purchase of Whole Foods is another step closer to reality, after the Federal Trade Commission decided the grocery deal would not hamper competition or provide an unfair advantage.

The Federal Trade Commission has cleared the way for Amazon to buy Whole Foods. The decision came just hours after shareholders of the Austin-based grocery chain approved the sale.

The last few months have not been easy ones for the small companies that supply Whole Foods with quinoa and kale. As big investors demanded a shake-up at the company, maybe even a takeover by a much bigger supermarket chain, Janey Hubschman felt that the fate of her own company, Epicurean Butter, was also at stake.

"The fact that their sales have not been great affects every single product that is in Whole Foods, and their reputation affects everything that is on the shelf," says the Colorado businesswoman, who has been selling to Whole Foods since 2005.

From Texas Standard:

There are deals, and then there are big deals. Amazon buying Austin-based grocery chain Whole Foods for $13.7 billion certainly falls into the latter category. But what makes this deal so big isn’t even the money – there have been bigger deals before – it’s the ripple effects on workers, wages, other companies and everyday people.

Updated at 9:20 a.m. ET on June 19

Amazon is buying Whole Foods, in a merger that values Whole Foods stock at $42 a share — a premium over the price of around $33 at the close of trading on Thursday. The Internet retailer says it's buying the brick-and-mortar fixture in a deal that is valued at $13.7 billion.

Whole Foods, which opened its first store in Austin, Texas, back in 1980, now has 465 stores in North America and the U.K.