Walmart Mergers and Acquisitions Summary

Retail Company

Walmart has acquired 19 companies, including 11 in the last 5 years. A total of 6 acquisitions came from private equity firms. It has also divested 3 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 2003, when it sold McLane Company to Berkshire Hathaway for $1.5B. Walmart has acquired in 5 different US states, and 7 countries. The Company’s most targeted sectors include retail (50%) and e-commerce (25%).

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M&A Summary

  • M&A Total Activity19
    • M&A Buy Activity16
    • M&A Sell Activity3
  • Total Sectors Invested 5
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 13
  • M&A Advisors 9

Walmart Inc. (Walmart)

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

Walmart Inc. 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 ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.6/yr) # 8 1 4 2 1 - 16
vol $14.0B $3.3B $361M $16.0B $33.7B
Sell (0.4/yr) # 1 - - 1 1 - 3
vol $1.5B $1.5B
  19

Most Recent M&A

Company Date Value Type
ModCloth, Inc. 2019-10-04 - Divestiture
San Francisco, California · www.modcloth.com
Aspectiva Ltd. 2019-02-25 - Add-on Acquisition
Jerusalem, Israel · www.aspectiva.com
Art.com, Inc. 2018-12-07 - Add-on Acquisition
Emeryville, California · www.art.com
Walmart Brasil Ltda. 2018-06-04 - Divestiture
Barueri, Brazil · www.walmartbrasil.com.br
Flipkart Internet Pvt. Ltd. 2018-05-09 16.0B USD Add-on Acquisition
Bangalore, India · www.flipkart.com
Parcel, Inc. 2017-10-03 - Add-on Acquisition
Brooklyn, New York · www.fromparcel.com
Bonobos, Inc. 2017-06-16 310M USD Add-on Acquisition
New York, New York · www.bonobos.com
ModCloth, Inc. 2017-03-17 - Add-on Acquisition
San Francisco, California · www.modcloth.com
New Moosejaw LLC 2017-02-15 51M USD Add-on Acquisition
Madison Heights, Michigan · www.moosejaw.com
Jet.com, Inc. 2016-08-08 3.3B USD Add-on Acquisition
Hoboken, New Jersey · www.jet.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
Flipkart Internet Pvt. Ltd. 2018-05-09 Liv.ai Pvt. Ltd. 2018-08-21 1
Bangalore, India · www.flipkart.com Bengaluru, India · www.liv.ai
Jet.com, Inc. 2016-08-08 Shoebuy.com, Inc. 2017-01-05 1
Hoboken, New Jersey · www.jet.com Boston, Massachusetts · www.shoebuy.com
Asda Stores Ltd. 1999-06-14 Asda Stores - Photo Division 2016-08-24 1
Leeds, United Kingdom · www.asda.co.uk , United Kingdom
WalmartLabs, Inc.    - PunchTab, Inc. 2015-09-23 15
San Bruno, California · www.walmartlabs.com Palo Alto, California · www.stonecanyonllc.com
WalmartLabs, Inc.    - Luvocracy, Inc. 2014-07-29 14
San Bruno, California · www.walmartlabs.com San Francisco, California · www.luvocracy.com
WalmartLabs, Inc.    - Stylr 2014-06-16 13
San Bruno, California · www.walmartlabs.com New York City, New York · www.stylrapp.com
WalmartLabs, Inc.    - Adchemy, Inc. 2014-05-05 12
San Bruno, California · www.walmartlabs.com Foster City, California · www.adchemy.com
WalmartLabs, Inc.    - Yumprint, Inc. 2014-02-26 11
San Bruno, California · www.walmartlabs.com Monroe, Washington · www.yumprint.com
WalmartLabs, Inc.    - Torbit 2013-07-24 10
San Bruno, California · www.walmartlabs.com Sunnyvale, California · www.torbit.com

M&A by Sector

Sector Buy # Value Sell # Value
Retail 8 (50%) 14.0B (42%) 1 (33%) -
E-Commerce 4 (25%) 19.3B (57%) 1 (33%) -
Transportation 2 (13%) - 1 (33%) 1.5B (100%)
Apparel/Textiles 1 (6%) 310M (1%) - -
Internet Software and Services 1 (6%) - - -
Total 16 $33.7B 3 $1.5B

By Geo

State/Country Buy Value Sell Value
United States 7 3.7B 2 1.5B
  California 2 - 1 -
  New York 2 310M - -
  Texas 1 - 1 1.5B
  New Jersey 1 3.3B - -
  Michigan 1 51M - -
Brazil 2 1.0B 1 -
Japan 3 - - -
Chile 1 2.7B - -
India 1 16.0B - -
Israel 1 - - -
United Kingdom 1 10.3B - -
Domestic 7 (44%) 3.7B (11%) 2 (67%) 1.5B (100%)
Cross-border 9 (56%) 30.0B (89%) 1 (33%) -
Total 16 $33.7B 3 $1.5B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities LLC
2
Barclays Investment Bank
1
Allen & Company
1
Legal Deals
Weil Gotshal & Manges LLP
1
Gibson, Dunn & Crutcher LLP
1
Hogan Lovells
1

Deal Values

buy # Total
> $1B 4 $32.3B
$100M to $1B 3 $1.3B
< $100M 1 $51M
TOTAL $33.7B
Largest Flipkart Internet Pvt. Ltd.
$16.0B (2018-05-09)
sell # Total
> $1B 1 $1.5B
TOTAL $1.5B
Largest McLane Company, Inc.
$1.5B (2003-05-02)

M&A Connections

Deals %
Acquired from
PE Firm(s)
60%
6 60%
Strategic(s)
40%
4 40%
Divested to
PE Firm(s)
33%
1 33%
Strategic(s)
67%
2 67%

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