Blog: Chile the next stop for Wal-Mart juggernaut
Dean Best | 23 January 2009
Today (23 January) came confirmation of Wal-Mart's growing desire to further expand internationally.
The world's largest retailer has had its tender offer for a majority stake in Chilean grocer D&S accepted – making the Latin American country the US titan's 14th overseas market.
The deal gives Wal-Mart control of Chile's largest food retailer, which has a narrow lead over local rival Cencosud.
More broadly, the acquisition is another sign that Wal-Mart is looking to increase its focus on its international businesses.
Next month, a new captain will be steering the good ship Wal-Mart with Mike Duke set to become president and CEO.
Duke has spent the last three years running Wal-Mart International, which, as a stand-alone business, is expected to see sales reach almost $100bn this year.
While Wal-Mart has benefited in its own backyard from the economic downturn, as US consumers clamour for value, the retailer is looking to spend more internationally.
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