Middle of the Country – Middle of the Road

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News in brief

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Walton kin buying

Walmart properties

Steuart Walton and Tom Walton are buying Walmart Inc.’s current Bentonville headquarters buildings and nearby parcels of land for about $60 million, their company ABN Holdings LLC said in a statement Friday.

The brothers are grandsons of Walmart founder Sam Walton.

Under the sale agreement, a $9 million deal on some parcels will close in Walmart’s fiscal 2023. The sale of the headquarters buildings and the rest of the land, with an appraised purchase price of about $51 million, is expected to close in fiscal 2025 or later when Walmart moves to its 350-acre campus now under construction.

Steuart Walton, who serves on Walmart’s board of directors, and Tom Walton own all the equity interests in ABN Holdings.

ABN Holdings said that the Waltons and their real estate company, Blue Crane LLC, will use the property “to create spaces that enhance the Northwest Arkansas community.”

Walmart’s headquarters, built in 1971, consists of more than 20 buildings at Southwest Eighth Street and Walton Boulevard. The retailer announced plans for a new campus in 2019.

— Serenah McKay

Heifer event to pair

businesses, clients

Women and minority business owners will get to meet potential clients in an annual matchmaking event at Heifer International headquarters on May 11 from 8:30 a.m. to 4 p.m.

The event may provide contract opportunities for goods and services with private and public sector buyers, and also will allow business owners to network with local, state and federal government buyers in Arkansas.

The keynote speaker will be Sidney Moncrief, author and motivational speaker, five-time NBA All-Star and former Arkansas Razorback, and founder of Moncrief One Team and Moncrief Game Changer, Inc., which aims to enhance student learning.

The headquarters is in downtown Little Rock near the Clinton Center at 1 World Avenue.

The event is free. Registration is required at http://info.arkansasedc.com/2022Matchmaking.

Registered participants will get 15-minute matchmaking opportunities with relevant buying representatives.

— Cristina LaRue

Index up to 790.10

after gain of 11.01

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Monday at 790.10, up 11.01.

“U.S. stocks finished Monday’s session slightly lower, despite strong earnings Bank of America, pushing against bond yields surging to three-year highs, adding to investor nerviness on expectations of an aggressive tightening in monetary policy in the coming weeks and months,” said Chris Harkins, managing director at Raymond James & Associates.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.