Walmart - M&A Summary and Business Overview

RetailCompany

Walmart M&A Summary

Walmart has acquired 26 companies, including 6 in the last 5 years. A total of 7 acquisitions came from private equity firms. It has also divested 10 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 (28%) and e-commerce (23%).

Walmart Business Overview

Where is Walmart headquartered?

Walmart is headquartered in Bentonville, Arkansas.

What is Walmart’s revenue?

Walmart disclosed revenue of 611,289M USD for 2023 and 572,754M USD for 2022.

How many employees does Walmart have?

Walmart has 2,100,000 employees.

What sector is Walmart in?

Walmart is a retail company.

When was Walmart founded?

Walmart was founded in 1945.

M&A Summary

  • M&A Total Activity32
    • M&A Buy Activity22
    • M&A Sell Activity10
  • Total Sectors Invested 11
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 25
  • 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 ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.0/yr) # 17 - 1 3 - 1 22
vol $34.7B $2.3B $37.0B
Sell (1.4/yr) # 3 3 - - 3 1 10
vol $1.5B $10.5B $75M $12.0B
  32

Most Recent M&A

Company Date Value Type
MeMD 2024-06-28 - Divestiture
Phoenix, Arizona · www.memd.me
Vizio Holding Corp. 2024-02-20 2.3B USD Add-on Acquisition
Irvine, California · www.vizio.com
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.me
Seiyu GK 2020-11-16 - Stake Sale
Tokyo, Japan · www.seiyu.co.jp
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 (27%) 14.0B (38%) 4 (40%) 10.5B (87%)
E-Commerce 5 (23%) 19.3B (52%) 2 (20%) -
Apparel/Textiles 2 (9%) 310M (1%) 2 (20%) 75M (1%)
Transportation 2 (9%) - 1 (10%) 1.5B (12%)
Healthcare Services 1 (5%) - 1 (10%) -
Electronics 1 (5%) 2.3B (6%) - -
Food 1 (5%) - - -
Information Technology 1 (5%) - - -
Internet Software and Services 1 (5%) - - -
Software 1 (5%) - - -
Technology Hardware 1 (5%) 1.0B (3%) - -
Total 22 $37.0B 10 $12.0B

By Geo

State/Country Buy Value Sell Value
United States 15 7.0B 7 1.6B
  California 5 3.3B 1 -
  Massachusetts 2 9M 1 -
  New York 2 310M 1 75M
  Michigan 1 51M 1 -
  Arizona 1 - 1 -
  Texas 1 - 1 1.5B
  Ohio 1 - 1 -
  New Jersey 1 3.3B - -
  Nebraska 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 15 (68%) 7.0B (19%) 7 (70%) 1.6B (13%)
Cross-border 7 (32%) 30.0B (81%) 3 (30%) 10.5B (87%)
Total 22 $37.0B 10 $12.0B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities
2
Goldman Sachs
1
Barclays Investment Bank
1
Legal Deals
Weil Gotshal & Manges
1
Gibson, Dunn & Crutcher
1
Hogan Lovells
1

Deal Values

buy # Total
> $1B 6 $35.6B
$100M to $1B 3 $1.3B
< $100M 2 $60M
TOTAL $37.0B
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)
18%
4 (18%)
Divested to
Investor(s)
40%
4 (40%)
Strategic(s)
70%
7 (70%)

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