Walmart continues its expansion to digital, now purchasing Cornershop

It may be too late, but Walmart does not remove the line in to strengthen its digital strategy to roll back the empire of the retail created by Amazon. Now, in order to strengthen their assets in eCommerce, the us company acquired Cornershop Inc., the application of supermarkets and digital purchases at home, for $ 225 million.

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Almost simultaneously, Walmart reported that it expects to sell Cornershop to its subsidiary in Mexico and Central america (Mexican) to operate the platform, mainly in Mexico and Chile, where it has a presence of its network of supermarkets, pharmacies and specialty stores based on a app and with home delivery.

The price and other terms of the transaction secondary will be based on the market value of the business to be acquired, taking into consideration a range of factors, including the best interests of Mexican and its shareholders, he added.

“It is estimated that the acquisition, which is subject to the approvals of the competent authorities, to close before the end of the year”, reported Mexican. Walmart of Mexico and Central america will offer later on a conference call about the acquisition of Cornershop.

“Cornershop has grown rapidly in Chile and Mexico, where we know that they continue to innovate. That is why, we are happy to strengthen a relationship already successful and help them expand their scope, as we learn from them,” he said about Judith McKenna, president and CEO of Walmart International.

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