Walmart Mergers and Acquisitions Summary

RetailCompany

Walmart has acquired 25 companies, including 10 in the last 5 years. A total of 7 acquisitions came from private equity firms. It has also divested 9 assets.

Walmart’s largest acquisition to date was in 2018, when it acquired Flipkart Internet Pvt. for $16.0B. It’s largest disclosed sale occurred in 2020, when it sold Asda Stores to TDR Capital for $10.5B. Walmart has acquired in 9 different US states, and 7 countries. The Company’s most targeted sectors include retail (29%) and e-commerce (24%).

Join Mergr and gain access to Walmart’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the retail sector.

M&A Summary

  • M&A Total Activity30
    • M&A Buy Activity21
    • M&A Sell Activity9
  • Total Sectors Invested 10
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 23
  • M&A Advisors 9

Walmart

Walmart Inc.

702 SW 8th Street,
Bentonville, Arkansas 72716
United States,
(479) 273-4000
www.walmart.com

Walmart is a discount retailer with operations across the globe. Walmart operates Wal-Mart Stores, Supercenters, Neighborhood Markets and SAM’S CLUBS in the US. Internationally, the company operates in Puerto Rico, Canada, China, Mexico, Germany, United Kingdom, Argentina, and South Korea. Walmart was formed in 1945 and is based in Bentonville, Arkansas.


M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (1.0/yr) # 16 1 - 1 3 - 21
vol $34.7B $34.7B
Sell (1.4/yr) # 2 1 3 - - 3 9
vol $1.5B $10.5B $75M $12.0B
  30

Most Recent M&A

Company Date Value Type
Eloquii Design, Inc. 2023-04-21 - Divestiture
Columbus, Ohio · www.eloquii.com
Bonobos, Inc. 2023-04-13 75M USD Divestiture
New York, New York · www.bonobos.com
New Moosejaw LLC 2023-02-22 - Divestiture
Madison Heights, Michigan · www.moosejaw.com
Alert Innovation, Inc. 2022-10-06 - Add-on Acquisition
North Billerica, Massachusetts · www.alertinnovation.com
Sustainable Beef LLC 2022-08-31 - Stake Purchase
North Platte, Nebraska
Memomi Labs, Inc. 2022-06-29 - Add-on Acquisition
Palo Alto, California · www.memorymirror.com
MeMD 2021-05-06 - Add-on Acquisition
Phoenix, Arizona · www.memd.net
Seiyu GK 2020-11-16 - Stake Sale
Tokyo, Japan · www.seiyu.co.jp
Asda Stores Ltd. 2020-10-02 10.5B GBP Divestiture
Leeds, United Kingdom · www.asda.co.uk
Shoes.com 2020-08-27 - Divestiture
Boston, Massachusetts · www.shoes.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
WalmartLabs, Inc.    - VUDU, Inc. 2020-04-20 1
San Bruno, California · www.walmartlabs.com Santa Clara, California · www.vudu.com
Jet.com, Inc. 2016-08-08 Shoebuy.com, Inc. 2017-01-05 1
Hoboken, New Jersey · www.jet.com Boston, Massachusetts · www.shoebuy.com

M&A by Sector

Sector Buy # Value Sell # Value
Retail 6 (29%) 14.0B (41%) 4 (44%) 10.5B (87%)
E-Commerce 5 (24%) 19.3B (56%) 2 (22%) -
Apparel/Textiles 2 (10%) 310M (1%) 2 (22%) 75M (1%)
Transportation 2 (10%) - 1 (11%) 1.5B (12%)
Food 1 (5%) - - -
Healthcare Services 1 (5%) - - -
Information Technology 1 (5%) - - -
Internet Software and Services 1 (5%) - - -
Software 1 (5%) - - -
Technology Hardware 1 (5%) 1.0B (3%) - -
Total 21 $34.7B 9 $12.0B

By Geo

State/Country Buy Value Sell Value
United States 14 4.7B 6 1.6B
  California 4 1.0B 1 -
  Massachusetts 2 9M 1 -
  New York 2 310M 1 75M
  Michigan 1 51M 1 -
  Texas 1 - 1 1.5B
  Ohio 1 - 1 -
  New Jersey 1 3.3B - -
  Nebraska 1 - - -
  Arizona 1 - - -
Brazil 2 1.0B 1 -
Japan 1 - 1 -
United Kingdom 1 10.3B 1 10.5B
Chile 1 2.7B - -
India 1 16.0B - -
Israel 1 - - -
Domestic 14 (67%) 4.7B (13%) 6 (67%) 1.6B (13%)
Cross-border 7 (33%) 30.0B (87%) 3 (33%) 10.5B (87%)
Total 21 $34.7B 9 $12.0B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities
2
Dresdner Kleinwort Wasserstein
1
Goldman Sachs
1
Legal Deals
Weil Gotshal & Manges LLP
1
Gibson, Dunn & Crutcher LLP
1
Hogan Lovells
1

Deal Values

buy # Total
> $1B 5 $33.3B
$100M to $1B 3 $1.3B
< $100M 2 $60M
TOTAL $34.7B
Largest Flipkart Internet Pvt. Ltd.
$16.0B (2018-05-09)
sell # Total
> $1B 2 $12.0B
< $100M 1 $75M
TOTAL $12.0B
Largest Asda Stores Ltd.
$10.5B (2020-10-02)

M&A Connections

Deals
Acquired from
Investor(s)
14%
3 (14%)
Strategic(s)
19%
4 (19%)
Divested to
Investor(s)
56%
5 (56%)
Strategic(s)
67%
6 (67%)

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