Plumbing supply company is selling its store at Walmart
Plumbing Supply Store at Walmart was sold at auction Wednesday, the company announced.
The sale comes as Walmart faces mounting pressure over its handling of the deadly Flint, Michigan, water crisis, which led to its closure of dozens of stores, and over its decision to keep the Flint river water supply in a river that has never been tested for toxic levels.
The Flint Water Treatment Plant is pictured in Flint, Mich., on Tuesday, June 2, 2018.
The deal for the Flint River Supply & Supply was announced Wednesday in a press release from the company.
The company plans to operate the store through 2025.
The purchase price was not disclosed, but a person familiar with the transaction said the deal was $100 million.
The person spoke on condition of anonymity because the deal has not been announced.
Plumbing Supply’s sale was first reported by Bloomberg.