Global Private Equity Firm Advent Dropping Walmart Name From Brazilian Markets
Founded in 1984, Advent International is one of the largest and most experienced global private equity firms. With offices on four continents, we have established a globally integrated team of more than 195 investment professionals, focused on buyouts and growth equity investments in five core sectors. Since initiating their private equity strategy in 1989, they have invested $44 billion in over 345 private equity investments across 41 countries, and as of March 31, 2019, managed $36 billion in assets. Today, as they did more than 30 years ago, they seek to invest in well-positioned companies and partner with management teams to create value through sustained revenue and earnings growth.
Reportedly, Advent is now set to drop Walmart Inc brand name from approximately 100 supermarkets in Brazil by June 2020. The Retailer which is currently known as Walmart Brasil to be renamed as Grupo BIG. Nearly 100 stores to be rebranded as BIG and BIG Bompreço and 27 stores to operate as Maxxi, cash-and-carry stores, and Sam’s club. The rebranding likely to bring in operating savings to the Brazilian supermarket, as earlier it had to pay a royalty to Walmart for its brand usage. Last Year, Walmart had sold 80% of its Brazilian business to Advent due to low performance in the Brazilian market and took a non-cash charge of roughly $4.5 billion.
Wal-mart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Wal-mart U.S., Wal-mart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.
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