Walmart has purchased a 62.2% stake in warehouse automation technology provider Symbotic, the Bentonville, Ark.-based retailer disclosed in an SEC filing.
In May, Walmart and Wilmington, Mass.-based Symbotic said they were expanding a partnership first announced last summer to implement Symbotic’s robotics tech and automation platform into Walmart distribution centers. Originally, Symbotic was set to supply its advanced automation to 25 regional distribution centers (RDCs); under the expanded agreement, Symbotic technology will be deployed to all 42 of Walmart’s RDCs.
Symbotic went public on the Nasdaq earlier this month through a SPAC deal coordinated with SoftBank Investment Advisers. It trades under the symbol SYM.
Source: WinsightGroceryBusiness
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 