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Whole Foods CEO: Amazon saved us from the 'whole paycheck' trap

"Whole Foods was in a trap, and I couldn’t quite figure how to get out of that trap. The trap was ‘whole paycheck,'" CEO John Mackey told Food Business News.

Before Amazon bought Whole Foods for $13.7 billion, the upscale grocery chain had a nickname: "Whole paycheck."

Just a few days after the merger, prices dropped as much as 43% on a range of Whole Foods products. Organic Fuji apples went from $3.49 a pound to $1.99 a pound. Organic avocados were marked down to $1.99 each from $2.79.

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