The activist investor was instrumental in pushing Whole Foods to sell itself. In 3 months the hedge fund made more than 300 million in profits.
As per a regulatory filing, activist investor Jana Partners LLC has cashed out of its position in Whole Foods Market Inc following its acquisition by Amazon.com’s $13.7 billion deal.
With an 8.2% stake in Whole Foods, Jana was the upscale grocery’s second-largest shareholder. Having bought 27.9 million shares of the company in March for $721.2 million, it has cashed out of its position on Tuesday for a price of more than $1 billion.
Jana had applied pressure on Whole Foods’ board to sell itself and had demanded better return of investment from investors, citing the retailer’s lagging sales and stock price.
In June Whole Foods saw logic in Jana’s demand and had agreed to be acquired by Amazon for $13.7 billion, in what has been described as a sector altering deal.