Amazon to buy Whole Foods in deal worth estimated $13.7 billion

The upscale supermarket's stock is up almost 30 percent after the internet giant announced the plan.
2:25 | 06/17/17

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Transcript for Amazon to buy Whole Foods in deal worth estimated $13.7 billion
Check this out. Tock in the upsce supermarket chain whole foods shot up nearly 0% on the news that the internet behemoth is buying them. This is Amazon's biggest acquisition and could big changes in the way you get your groceries and erielle reshef is outside a whole foods store in New York City. Good morning to you, erielle. Reporter: Good morning, Dan and Paula. Imagine shopping at a busy whole foods like this one without ever having to take out your wallet or wait in a long line. That's just one way experts say this acquisition could transform your grocery experience. Amazon acquiring whole foods aiming to wholly change the way you shop for groceries. This allows them the infrastructure they need to pair with their online logistics in order to be successful and bring grocery forward. Reporter: The nearly $13.7 billion deal giving Amazon 465 physical whole food stores. Brick and mortar locations that could become distribution hubs and pickup centers for anything you order online. The new agreement placing Walmart directly in the crosshairs of the virtual retail powerhouse. Amazon's CEO positioning his company at the forefront of distribution. Jeff bezos has done what it takes to transform a business at the expense of profitability or quarter-to-quarter result. Another link in the chain for the tech tighten expanding grocery ordering and pickup services. You can pick up your groceries in as little as 15 minces after your order is placed. Reporter: Now testing its pilot go store in Seattle. No lines, no checkouts. When you leave, our just walk out technology adds up your virtual cart and charges your Amazon account. Reporter: They're continuing to capitalize on the consumer appetite for convenience and cutting costs. And the two companies are remaining pretty quiet about their plans for the future but analysts say Amazon will likely try to make whole foods more efficient and could mean big savings for anyone who shops here. I'm waiting for the day when I can get my quinoa by drone. That's coming soon. Quinoa of all things. Disregard everything he said. Whole food stock went up 30% but Amazon's went up 3.3% but that's $15 billion, so if they actually made money on the acquisition. At least on paper. At least on paper.

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