Walmart Buys Into Chilean Supermarket Chain

Walmart acquired nearly 58.2 percent of Chilean supermarket chain Distribución y Servicio D&S S.A.

Plans beyond the deal include upgrades to current stores, new stores, and associate and supplier development, says says Craig Herkert, Walmart executive vice president and chief executive officer of the Americas.

"Partnering with D&S, with its strong brands and its position as Chile's largest food retailer, is an important step in implementing Walmart's international strategy," says Herkert. "We continue to focus on portfolio optimization, global leverage and winning in every market."

D&S operates more than 180 stores, 10 shopping centers and 85 Presto financial service branches. Family owners Felipe Ibanez Scott and Nicolas Ibanez Scott will retain 40 percent of the business with 1.7 percent left to the public.