The king of online retail Amazon announced today they will buy the high end grocery chain Whole Foods with the widely reported price tag being $13.7 billion dollars. The ramifications are pretty big for the grocery store industry while also greatly influencing the future of how millions of people buy everyday items and food online. There is no plans currently to shutdown the brick and mortar stores of Whole Foods. Meanwhile Amazon last year opened up stores (including one in Wrigleyville) where you can use your online account with them to purchase items in the store, with no cash registers.

There are a lot of people in the grocery store industry are not happy about it. The Street breaks down all the financial maneuvers at play here and how Amazon CEO Jeff Bezos is going for something even bigger.