Prices To Be Cut Monday After Whole Foods Sale Approved
Well the federal government approved the sale of Austin, Texas-based Whole Foods to Amazon and changes appear to be coming fast. The new management announced that prices on essential grocery items will be cut effective on Monday. The deal encompasses Whole Foods network of 460 stores nationwide.
According to FOX Business Network, the price cuts will first be applied to produce, eggs, fish, and beef when the takeover is complete. This will put Whole Foods in direct competition with discount grocery stores as many in Acadiana are budgeting for things like groceries for the first time as the oil industry struggles to recover.
Another change that customers can expect is the ability to buy many of the company's grocery items online. Amazon initally conquered the online book sale buisness, but has become a huge competitor for general merchandising giant Walmart. Wall Street responded pretty swiftly about the news and rather unfavorably for now-rival Kroger.
Traditional grocers petitioned the Federal Trade Commission to block the deal on the basis of limited competition. They were unsuccessful in their fight to block the deal which is worth an estimated $13.7 billion dollars. The company only has one store in Acadiana near the intersection of Ambassador Caffery and Settlers Trace in Lafayette.