Walmart acquires Cornershop

|About: Walmart Inc. (WMT)|By:, SA News Editor

Walmart (NYSE:WMT) announces the acquisition of online marketplace Cornershop for $225M..

Cornershop provides on-demand delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile.

The company says the transaction is an important step forward in accelerating the company’s omnichannel capabilities and growth in Latin America. The deal is also seen as an opportunity to leverage both the brands, as well as Walmart’s strong supply chain and store network."

Cornershop will remain an open platform after closing that will continue to deliver from a variety of retailers.

WMT +0.34% premarket to $96.30.

Source: Press Release

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