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   Walmart Eyes Mexico Grocery Delivery With $225M Purchase
by Cyntia Aurora Barrera Diaz, Bloomberg
Posted: Friday, September 14, 2018 at 3:38PM EDT

Walmart Inc. is snapping up a popular app for grocery deliveries in Mexico.

The company agreed to purchase Cornershop, which also offers a shopping-delivery service in Chile, for $225 million. Walmart will subsequently sell Cornershop’s operations in Mexico to its local subsidiary, Walmex, at a yet-to-be-determined price. The transaction is expected to close this year.

Walmex, Mexico’s biggest supermarket chain, is following its U.S. parent by expanding aggressively in e-commerce. Mexico’s potential is already drawing the attention of rivals such as Amazon.com Inc., which started a food-and-beverage delivery service for its Prime clients there. Amazon also has a deal with Fomento Economico Mexicano SAB to use its vast network of Oxxo convenience stores as delivery centers where shoppers can pick up their orders.

To read the rest of the story, please go to: Bloomberg


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