Business Vanguard
Amazon Whole Foods Rogelio V. Solis/AP

Customers drive past this Whole Foods Market store in Jackson, Mississippi, Friday, June 16. Amazon is buying Whole Foods Market in a deal valued at $13.7 billion, uniting the online giant with the grocery store chain that touts fresh organic foods.

June 19, 2017

Vanguard makes out big from Amazon's Whole Foods purchase

Investment management group Vanguard, which made headlines in Philadelphia last year for returning to the city after a 15-year hiatus, had among the most to gain following Amazon’s purchase of Whole Foods for $13.7 billion on Friday.

Of the six major shareholders, Vanguard had the most at stake, gaining a reported $276 million increase in just one day. With 30.9 million shares held, Vanguard was Whole Foods’ biggest investor.

Other major businesses invested in Whole Foods include Parnassus Investments and Jana Partners. The purchase came at a particularly sweet time for them, as Whole Foods shares have slipped in value since 2013.

Vanguard became the biggest holder of Whole Foods Market in February, owning $939.86 million in Whole Foods, which is about 9.5 percent of the company’s market cap.

With Vanguard locations already in the suburbs, the Philadelphia office is slated for 2300 Chestnut St. and will employ 20. Vanguard's Malvern offices make it one of the biggest employers in Chester County.