Photo: Chris Poliquin / The Daily Pennsylvanian
Looks like FroGro won’t be shutting down after all.
In a stunning move that shocked both the tech and food industries, Amazon (NYSE: AMZN), has agreed to a full corporate buyout of the Fresh Grocer on 40th and Walnut. In this blockbuster acquisition, Amazon is dishing out a whopping $9.58 to make the deal, almost double the current valuation of FroGro.
The new and revamped Fresh Grocer will reportedly not even be a grocery store, and will actually just be an extension of the Amazon Center under Commons. Students will be required to order their groceries one day in advance, and then come to the new Fresh Grocer to pick them up from some cool metal box things that no one really understands.Read the Full Article