Walmart has sold its brick and mortar stores, including the flagship Sam’s Club and Best Buy, to a company owned by Amazon founder Jeff Bezos.
The sale of Sam’s and BestBuy to the e-commerce giant comes amid Amazon’s efforts to expand into new markets.
Last month, Amazon announced plans to buy Whole Foods for $13.5 billion in cash.
The company said in a statement that the deal was contingent on the completion of “investments in its fulfillment centers, the fulfillment of its existing merchandise, and other critical initiatives.”
Walmart announced in February it would open a new brick- and-mortard store in the Phoenix suburb of Tempe.