US-based Walmart is considering expanding into Europe with mergers and acquisitions a likely growth strategy, according to the Independent. Founder Sam Walton’s grandson Steuart Walton is thought to have taken an interest in the problems at the French retailer Carrefour.
A source close to Walmart said Walton would consider taking over Carrefour stores if the French retailer decides to close outlets. In the face of a stagnating US market and fierce competition for Asda in the UK, Walmart sees Europe as a growth driver. A spokesman said: “Steuart is currently on secondment in the UK as part of his induction into the Walmart business.”
Source: Planet Retail
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