What's next for Whole Foods Market?
Amazon and Kroger may be looking to acquire Whole Foods Market, which is in the middle of a months-long period of declining sales.
According to Bloomberg, Jana Partners, an activist investor with a long track record, has called for Whole Foods to overhaul its operations and brought in retail and food experts to help foster a turnaround. It also urged the company to consider a sale.
A list of potential bidders includes Amazon, as well as traditional grocery chains such as Kroger Co. and Albertsons Cos. A private equity suitor also could step in, helping take Whole Foods private and fix its problems out of the spotlight.
According to Bloomberg, Jana's team includes former executives from Gap Inc. and grocery chain Harris Teeter, who will help size up the company’s problems. The group also includes author and food activist Mark Bittman, a former columnist for the New York Times.
Amazon hasn’t been hiding its grocery ambition. From its AmazonFresh online grocery delivery service to its ongoing attempts to open brick-and-mortar locations, Amazon clearly hopes that customers who already turn to the brand for buying pretty much everything will tack their weekly shopping onto that list.