Whole Foods Market, the natural-foods chain often mocked as Whole Paycheck due to its high prices, may soon need a new nickname.
Amazon, which is acquiring the organic supermarket chain for $13.7 billion, has announced that starting Monday, it'll cut prices on various staples, including organic bananas and large brown eggs, salmon and lean ground beef.
The Seattle-based Internet giant said that other foods will be added to that list soon.
"We're determined to make healthy and organic food affordable for everyone. Everybody should be able to eat Whole Foods Market quality. We will lower prices without compromising Whole Foods Market's long-held commitment to the highest standards," said Jeff Wilke, CEO of Amazon Worldwide Consumer.
Amazon also revealed plans to offer Amazon Prime as the customer rewards program at Whole Foods stores, which will come with special savings and in-store benefits.
The news comes the day after Whole Foods shareholders voted to approve Amazon's bid. Each share is $42.
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