The world's largest retailer said Wednesday that its online division spent roughly $51 million to acquire Moosejaw, a web retailer that specializes in outdoor apparel and goods.
Moosejaw's "strong heritage" in the outdoor space and its relationships with more than 400 "cherished" brands, make it a good addition to Wal-Mart's portfolio, spokesman Ravi Jariwala told CNBC.
Those brands include Patagonia and The North Face, whose merchandise Wal-Mart currently does not sell. However, Moosejaw suppliers that are interested in selling their products on Wal-Mart's other websites (including Walmart.com) will have the option to do so, Jariwala said.
Wal-Mart shares were trading slightly lower, near $68.49, Wednesday morning.
The company has added several tools to its online arsenal since late 2016. It started with the $3 billion purchase of Jet.com in August, which brought in Jet Chief Marc Lore and led to a reshuffling of Wal-Mart's digital team. Then, in late December, Jet acquired the online footwear retailer ShoeBuy for roughly $70 million.
Jariwala said Wal-Mart will both continue looking for acquisition opportunities and push for organic growth. Last month, the company scrapped its subscription ShippingPass program in favor of free two-day shipping when shoppers spend $35.
"The strategy is to grow [e-commerce]," Jariwala said.
Wal-Mart's e-commerce sales increased 20.6 percent in the third quarter, marking an acceleration from the prior three-month period. Wal-Mart is scheduled to report fourth-quarter earnings Tuesday.