Whole Foods and Instacart are taking their relationship to the next level.
The $10 billion national grocery store chain is making an investment in the four-year-old delivery startup, according to multiple sources. The size of the deal could not be learned, but sources say the deal is essentially done, barring an unforeseen last-minute change of heart.
The two companies have also signed a five-year delivery partnership, these people said, making Instacart the exclusive delivery partner for Whole Foods' perishables business. Other terms of the deal could not be learned, but Instacart's commercial agreements with its grocery store partners typically include a revenue sharing component.
Spokespeople for both companies said they had no information to share.
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