US-based discount retail chain Wal-marthas announced the acquisition of Cornershop, a leading online marketplace for crowdsourced on-demand deliveries from supermarkets, pharmacies and specialty food retailers in Mexico and Chile, in a deal worth $225 million.
According to Walmart, the transaction is an important step forward to accelerate the company’s omnichannel capabilities and its growth in Latin America.
Judith McKenna, president and CEO of Walmart International, said: “Cornershop’s digital expertise, technology and capabilities will strengthen our successful businesses in Mexico and Chile and provide learning for other markets in which we operate. This is an opportunity to leverage both of our brands, as well as Walmart’s strong supply chain and store network”.
Post-acquisition, Cornershop will continue deliveries from various retailers, extending the convenience and availability of food, health & wellness and packaged goods to Mexico and Chile, according to Walmart.
The announcement follows Walmart’s recent investment in Dada-JD Daojia in China and the strategic alliance with Rakuten in Japan.