Amazon (AMZN -0.7%) will close on its deal to acquire Whole Foods Market (NASDAQ:WFM) on August 28. Namely, Whole Foods Market will soon have Amazon Prime integrated in their point-of-sale systems, enabling Prime customers to get in-store benefits and discounts.
Amazon said its Prime members will eventually become part of Whole Foods Market's customer rewards program.
Whole Foods' more than 400 locations in the U.S., Canada and the United Kingdom give the e-commerce giant a vast physical network to sell products to more customers.
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Items that will be marked down on Monday include organic avocados, organic brown eggs, organic salmon, almond butter, organic apples and organic rotisserie chicken.
Amazon says it does not plan to lay off any Whole Foods employees or implement any Amazon Go technology into stores-which will continue to operate under the Whole Foods name.
On Wednesday, Whole Foods shareholders are expected to vote on the deal, which would propel Amazon further into the grocery business than it has ever been.
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TODAY's editorial team made a decision to bring you this report on Whole Foods & Amazon.
Inc.'s proposed $13.7 billion purchase of Whole Foods Market Inc. won quick US antitrust approval, showing that concerns in Washington about the growing power of technology companies weren't enough to derail the online retailer's biggest-ever acquisition.
Amazon shoppers will also begin to see changes on Monday, with the addition of Whole Foods' private label products - including 365 Everyday Value, Whole Paws and Whole Catch - to Amazon.com, AmazonFresh and Prime Pantry. Whole Foods CEO John Mackey adds, "By working together with Amazon and integrating in several key areas, we can lower prices and double down on that mission and reach more people". A Morgan Stanley survey earlier this month found that Whole Foods prices were down slightly from past year, but that they still averaged roughly 15% higher than regional supermarkets.
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It's Amazon Prime time for Whole Foods shoppers. For more information, please visit www.WholeFoodsMarket.com or @WholeFoods on Twitter.