MM & A

Report: Walmart to Acquire Cornershop for $200M

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Cornershop, the Chilean/Mexican last mile delivery service, is reportedly in talks with Walmart for a potential $200M acquisition. Cornershop is one of the top two companies in Latin America in the last mile delivery space, along with Rappi, Mercadoni and Glovo.

Daniel Undurraga, Cornershop cofounder, said “there’s nothing close to being ready to sign” when asked by Chilean newspaper Diario Financiero.

Cornershop was founded by Undurraga, Juan Pablo Cuevas and Oskar Hjertonsson in 2015. The team was previously responsible for Needish and Clandescuento, which were sold to Groupon in 2010.

If completed, this transaction will represent a big step forward in the M&A market in Latin America, with US companies starting to buy in the Latin American market.

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Sophia is the co-founder of LatamList. Currently, she is CEO at Friends of Wallacea & Venture Partner at Magma Partners. Sophia is passionate about harnessing the power of technology to empower communities to conserve and sustainably manage their land. She has followed this passion down several avenues, from entrepreneurship to investment and large-scale conservation management, including projects that span Africa, Latin America, and the South Pacific.

3 comments
  1. Pingback: Some Walmart Chile stores make 25% of their sales through e-commerce – LatAm List
  2. Pingback: Nathan Lustig – Latin American Shipping: Opportunities for Startups
  3. Pingback: Update: Walmart acquires Cornershop for US$225M – LatAm List
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