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Amazon's Move to Purchase Whole Foods Is 'Disruption of Society,' Jim Cramer Says

Jim Cramer on Amazon's agreement to acquire Whole Foods.
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TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer said Amazon's (AMZN) - Get Amazon.com, Inc. Report move to acquire Whole Foods (WFM) is a disruption of society. 

"This is what I regard to be a move by Amazon to destroy the margins and own the business of food and groceries in this country," Cramer said. 

Whole Foods' technology woes have now been solved thanks to Amazon's technology prowess. "One of the things Whole Foods underspent on for a long time was point of sale," Cramer said. "You don't have to worry about that anymore because Amazon is the king of point of sale."

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Shares of Walmart (WMT) - Get Walmart Inc. Report , Kroger (KR) - Get Kroger Co. (KR) Report and Target (TGT) - Get Target Corporation Report sunk on Friday following the news.

"Amazon is a country and it's a country that offers everything you need to feed and clothe the family," Cramer noted. "This is what I call the most ultimate disruption that I have seen in an industry."

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