by Nick Eicher
Posted 6/19/17, 11:44 am
Amazon announced late last week it would spend $13.7 billion to buy upscale grocer Whole Foods, almost 20 percent more than the company is worth right now. Two factors made Whole Foods ripe for purchase: First, it’s been suffering from falling sales. Second, an activist Whole Foods shareholder has been pressuring the board to sell. The move could create a sea-change in the way Americans buy groceries. Prodded by Amazon, a great deal of purchasing has migrated online.