Wal-Mart Just Spent $51M Buying This Website

Wal-Mart is trying to close the gap with Amazon.com, who has quickly become the top online retailer.

Wal-Mart just revealed it its online division has just purchased Moosejaw.com, a web retailer that specializes in outdoor apparel and goods. Brands include Patagonia and The North Face.

Company spokesman Ravi Jariwala told CNBC that 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.

Jariwala also said that Wal-Mart will both continue looking for acquisition opportunities and push for organic growth. He said the company’s “strategy is to grow [e-commerce].”

Disclaimer: We have no position in Kohl’s Corporation (NYSE: KSS) and have not been compensated for this article.