Walmart Mexico purchases Cornershop for US$225 million
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Walmart Mexico announced their decision to purchase Cornershop, a home delivery platform designed for supermarkets and pharmacies, for US$225 million. Said company is considered a home delivery leader within the Mexican and Chilean markets.
Walmex and Cornershop also reported that, under their commercial agreement, Cornershop customers will be able to purchase products at Walmart stores in Mexico at the same price as they are sold in physical stores.
"Cornershop's digital leadership, technology and capabilities, combined with Walmex's infrastructure, experience and logistics capabilities, will allow us to accelerate growth and deliver a frictionless shopping experience to more customers," said Walmart Mexico and Central America’s CEO, Guilherme Loureiro.
The commercial agreement will initially be implemented in Mexico City, Guadalajara and Monterrey.