Walmart to Acquire Cornershop in Mexico and Chile, Further Investing in Last-Mile Delivery and Strengthening
Omnichannel Strategy
Walmart Inc. (NYSE: WMT) today announced the acquisition of Cornershop, Inc., a leading online marketplace for on-demand
delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile. This transaction is an important step
forward in accelerating the company’s omnichannel capabilities and growth in Latin America. It follows Walmart’s recent investment
in Dada-JD Daojia in China and the strategic alliance with Rakuten in Japan.
“We are focused on making life easier for customers and associates by building strong local businesses, powered by Walmart,”
said Judith McKenna, president and CEO of Walmart International. “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. Combining Cornershop’s
innovative, crowdsourced delivery platform with Walmart’s unique assets will allow us to accelerate growth for both companies,
delighting our customers by saving them both time and money. We are excited to welcome Cornershop to the Walmart family.”
Walmart has entered into a definitive agreement to acquire Cornershop, Inc. for $225 million. Cornershop is a leading online
marketplace for crowdsourced, on-demand delivery in Mexico and Chile and is rapidly building scale, with the number of unique users
doubling in the past 12 months. Cornershop’s three founders, Oskar Hjertonsson, CEO; Daniel Undurraga, chief operating officer; and
Juan Pablo Cuevas, chief technology officer, and their teams, will continue to lead the business.
Cornershop will remain an open platform that will continue to deliver from a variety of retailers, extending the convenience and
availability of food, health & wellness and packaged goods for customers in Mexico and Chile. Closing of the transaction is
subject to regulatory approval and is expected by the end of the year. For more information on this acquisition, please visit the
Walmart de México
website and the Walmart Chile
website.
Information about other recent investments can be found in the
Dada-JD Daojia press release and the
Rakuten press release.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores,
online, and through their mobile devices. Each week, nearly 265 million customers and members visit our more than 11,200 stores
under 55 banners in 27 countries and eCommerce websites. With fiscal year 2018 revenue of $500.3 billion, Walmart employs over 2.2
million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment
opportunity. Additional information about Walmart can be found by visiting
http://corporate.walmart.com, on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
Walmart Inc.
Media Relations:
Pedro Mucciolo, 1-800-331-0085
U.S.:
news.walmart.com/reporter
or
Investor Relations:
+1 (479) 277-8782
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