E-commerce behemoth Amazon.com has entered into an agreement to buy the Whole Foods grocery chain for $13.7 billion, or $42 per share, writes Will Anderson for Philadelphia Business Journal.

As part of the deal, John Mackey, a co-founder of Whole Foods, will stay on as the company’s CEO. Whole Foods will also continue to be based in Austin and will keep its brand name.

The grocery chain has a significant presence in and around Philadelphia, and has recently expanded into Center City and along the Main Line.

In addition to its locations in Wynnewood and the Philadelphia Art Museum Area, Whole Foods has seven other stores in the region. These include stores in Devon, Chester County, Jenkintown, North Wales, and Plymouth Meeting in Montgomery County, and its Glen Mills store in Delaware County.

“Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades, they’re doing an amazing job and we want that to continue,” said Amazon CEO, Jeff Bezos.

Pending regulatory and shareholder approval, the deal is should be finalized by the end of the year.

Read more about the agreement at Philadelphia Business Journal by clicking here.