Lower prices coming to Whole Foods on Monday, Amazon says

Cost cuts on some items will kick in Monday.
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Amazon says it's sending lower prices to its newest company and they'll arrive on Monday. 

That's the day Amazon's $13.7 billion purchase of Whole Foods Market gets finalized. And the e-commerce kings announced on Thursday that Whole Foods shoppers will see some prices cut on day one.

“We’re determined to make healthy and organic food affordable for everyone," the CEO of Amazon Worldwide Consumer, Jeff Wilke, said in the statement. 

The opening day round of cost cuts will focus on grocery staples including organic foods like bananas, avocados, salmon, rotisserie chicken, and baby lettuce, Amazon says. 

Discounts for Prime members 

Once the companies get their technology integrated, Amazon Prime members will start getting discounts and other benefits on their shopping trips to Whole Foods, the companies say. 

They also promise to come up with other ways to bring prices down. 

"We can’t wait to start showing customers what’s possible when Whole Foods Market and Amazon innovate together,” Whole Foods co-founder John Mackey said. 

Prices have been one of the biggest complaints about Whole Foods. CNN Money notes that a couple years ago regulators in New York City accused the chain of systematic overcharging for pre-packaged foods, causing Whole Foods to pay a half-million dollar settlement. 

Amazon delivers to your Whole Foods locker

The combination of the companies means food labels that're unique to Whole Foods – 365 Everyday Value, for example – will be available on Amazon.com, Amazon Fresh, and Prime Pantry. 

It'll work the other way, too. You'll be able to get a locker at your local Whole Foods and things you buy on Amazon.com can be delivered there. The lockers can be used to send back returns, too, Amazon says. 

Plans also call for opening more Whole Foods stores (right now there are more than 450 in three countries). Amazon says the stores will expand their work with local farmers. 

Not good news for other food sellers

The news that the acquisition is about to be finalized came in the afternoon and sent other supermarkets' stock market prices plummeting. 

Twin Cities-based Supervalu dropped more than six percent and Target fell nearly five percent. 

The Wall Street Journal says it was the prospect of lower prices at Whole Foods that hit competitors hard.

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