Walmart Expanding Latin American Footprint With Cornershop Acquisition
Wal-mart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Wal-mart U.S., Wal-mart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites.
Walmart has further expanded its footprint into Latin America with the purchase of the Cornershop, Inc., an online marketplace for on-demand delivery from supermarkets, pharmacies, and specialty food retailers in the countries of Mexico and Chile. The retail-giant acquired Cornershop for $225 million. The transaction is expected to close by the end of the year.
The current acquisition follows the company’s recent investment in Dada-JD Daojia in China and a strategic alliance in Japan with Rakuten.
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