Mexico City - In Mexico, traditional retailers are increasing investments in logistics, technology and product offerings to meet the growing demand for online shopping, including in the food and drink sector.

Earlier this month, Walmart announced a $225 million acquisition of Cornershop, a marketplace for online demand deliveries from grocery stores, pharmacies and specialty food retailers in Mexico and Chile. Walmart said the deal is a step forward in trying to accelerate the company's omnichannel capabilities while boosting growth in Latin America.

"We are focused on making life easier for customers and associates by building strong local businesses, powered by Walmart," said Judith McKenna, president and CEO of Walmart International. "Cornershop's digital expertise, technology and capabilities will strengthen our successful businesses in Mexico and Chile and provide learning for other markets in which we operate.

"This is an opportunity to leverage both of our brands, as well as Walmart's strong supply chain and store network. Combining Cornershop's innovative, crowdsourced delivery platform with Walmart's unique assets will allow us to accelerate growth for both companies, delighting our customers by saving them both time and money. We are excited to welcome Cornershop to the Walmart family."

Walmart said Cornershop is a leading online marketplace for crowdsourced, on-demand delivery in Mexico and Chile and is rapidly building scale, with the number of unique users doubling in the past 12 months. Cornershop's founders, CEO Oskar Hjertonsson, COO Daniel Undurraga and CTO Juan Pablo Cuevas, and their teams, will continue to lead the business.

McKenna said Cornershop will remain an open platform that will continue to deliver from a variety of retailers, extending the convenience and availability of food, health and wellness and packaged goods for customers in Mexico and Chile. The deal is subject to regulatory approval and is expected to close by the end of the year.

In Mexico, Cornershop will operate under Walmart's subsidiary Walmex and offer users goods at the same prices as in the company's physical stores, initially in Mexico City, Guadalajara and Monterrey.

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