Walmart recently made another big purchase to stay ahead of the curve in grocery delivery.
The retail giant spent $225 million on Cornershop, an online marketplace for on-demand delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile, according to a company statement.
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Walmart has made strides in recent months to offer worldwide grocery delivery. The company announced that it would become the largest shareholder in India’s Flipkart Group in May, invested $320 million in China’s Dada-JD Daojia in early August and entered into a strategic alliance with Japan’s Rakuten in January.
“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.
The number of Cornershop’s unique users doubled in the last year as grocery delivery expanded, according to Walmart’s statement.
The companies expect to close on the transaction by the end of the year, following regulatory approval.
Grocery providers have been racing to provide the best grocery delivery services since Amazon acquired Whole Foods Market in August 2017, shaking up the grocery industry. There are 38 Walmart stores in the greater Dayton area, according to the company.
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