Walmart to buy Art.com

Business 12/7/2018, 2:14 AM
Walmart to buy Art.com

Walmart Inc. announced its plans to acquire Art.com, the largest online retailer of art and wall decor according to the press release, for an undisclosed amount.

"I'm thrilled to announce our plans to acquire the assets of Art.com." Anthony Soohoo, senior vice president said in the company's announcement. The retail giant plans to operate Art's assets as a "standalone and complementary site," before adding their " wide-ranging assortment" to its websites Walmart.com, Jet.com, and Hayneedle.com, Soohoo stated.

The deal is expected to close in 2019.

Breaking the News / MD

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