- Amazon’s (NASDAQ:AMZN) annual report includes a footnote revealing the company has $22B in additional commitments related to its Whole Foods acquisition. The obligation lasts until 2025.
- The “unconditional purchase obligations” note includes $24.2B in future payment agreements for 2017. Amazon had $1.6B in obligations before the acquisition and never went above $2B.
- The money will go towards future food purchases, which experts say shows Amazon’s commitment to growing the business, though the tactic isn’t typical for grocery retailers.
- Amazon acquired Whole Foods last year for $13B.
- Amazon shares are up 0.6% to $1,554.27.
- Previously: Reuters: Amazon meeting to plan direct move into Brazil market (March 7)