Walmart announced on Tuesday that it would buy Whole Foods for $2.4 billion.
The deal, which is the largest merger in history, marks the largest acquisition in Walmart’s history, with more than $7 billion in assets and $8.4 million in revenue.
It comes on the heels of the $5.6 billion purchase of the grocery chain’s food distribution business in January.
In its statement announcing the deal, Walmart said it would provide a “unique platform” for Amazon Prime members and “a strong foundation” to build the company’s grocery stores.
It also promised to “transform our stores, bring customers closer to the food they love, and give customers more choice and convenience.”
It said the deal would “increase Walmart’s presence in the grocery market, including its most loyal customers, by providing a better store experience.”
The purchase comes on top of a deal Walmart announced last year that also includes Amazon Prime and the online retailer’s PrimeFresh grocery delivery service.
It will provide Amazon Prime subscribers with more options for buying groceries.
The retailer also said it will start rolling out its new Prime Now delivery service, which it says will enable customers to buy groceries online in a more convenient and convenient way.
Walmart says Prime Now will be available for customers who have an Amazon Prime membership for up to one year.
The grocery giant has previously said it is expanding its Prime Now program, but it’s unclear how many members it has or how many items they can buy with the service.
Walmart has also been ramping up its retail strategy, with plans to open 3,000 stores in the U.S. this year and expand its grocery distribution and delivery network.