Advent International, a global private equity firm, completed the acquisition of 80% stake in Walmart Brazil, a chain of hypermarkets. Financial terms were not disclosed. "We have been in Brazil for over 20 years and are excited about this partnership with one of the country's leading retailers. We believe that with our local market knowledge and retail expertise we can position the company to generate significant results and reach new levels of success in Brazil. We plan to invest in the business, work with the Walmart Brazil management team, associates, Walmart and our industry advisors to create a more agile and modern company to accelerate its development and improve the customer experience," Patrice Etlin, Advent International Managing Partner.