The world’s largest retailer is on a mission to save itself from the ravages of climate change.
On Tuesday, the company announced plans to buy the company that makes shoe glue, a move that could save the company millions of dollars a year.
Walmart said it was interested in the company’s manufacturing expertise and technology, as well as its manufacturing capabilities in areas such as food processing, and the ability to deliver products with fewer shipping costs.
The move is the latest in a string of acquisitions that have the retailer looking to save money and improve the quality of its products.
The latest addition to its arsenal is the $7 billion purchase of online retailer Shopify last month.
In addition to the $300 million in cash and stock it acquired in the deal, Walmart is also looking to expand its presence in online retail.
The company said it would invest $500 million over the next three years to open a store in California.
The store will have its first store in 2018 and will open at the former WalMart Supercenter in Santa Monica, which is about 30 miles from Los Angeles.
Walmart said the new stores will employ 1,000 people, a figure that would put it in line with its total workforce of about 1 million people worldwide.
As the world’s second-largest retailer, WalMart has been under pressure from other retailers to improve the efficiency of its operations.
It has been the subject of criticism by many for its high costs of goods and its lack of transparency.
Its online presence has been beset by problems in recent months, including a string, which began in early December, of reports of fraudulent transactions and the sale of counterfeit goods.
Despite these problems, Wal-Mart has managed to remain in business, raising $22 billion in revenue in 2016.
More to come.