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.