Walmart Inc.s’ $225 Million Acquisition of Cornershop Inc.


Morrison & Foerster, Marván, González Graf y González Larrazolo, Arteaga Gorziglia, Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, Creel, García-Cuéllar, Aiza y Enríquez and DLA Piper BAZ NLD advised on the deal


Walmart Inc. (NYSE: WMT) finalized the acquisition of Cornershop, Inc., a leading online marketplace for on-demand delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile. This transaction is an important step forward in accelerating the company’s omnichannel capabilities and growth in Latin America. It follows Walmart’s recent investment in Dada-JD Daojia in China and the strategic alliance with Rakuten in Japan.

Walmart has entered into a definitive agreement to acquire Cornershop, Inc. for $225 million. 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 three founders, Oskar Hjertonsson, CEO; Daniel Undurraga, chief operating officer; and Juan Pablo Cuevas, chief technology officer, and their teams, will continue to lead the business.

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

Morrison & Foerster advised Walmart Inc. with Mike Krigbaum (Picture) and Jae Yoo.

In Mexico, Marván, González Graf y González Larrazolo advised Walmart Inc. with Héctor González Graf.

In Chile, Arteaga Gorziglia advised Walmart Inc. with Arnaldo Gorziglia, Andrés Ossandón, Gustavo Marambio, Magdalena Fabres and María Francisca Danoun.

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, advised Delivery Technologies, S. de R.L. de C.V. (Cornershop) with a team including Daniel Green, Michael Richman, Bradley Krack, Robin Stenerson, Laurel Fedder, Valerie Lau, Kelly Trimble, Matthew Weber and Olga Zolotnik.

In Mexico, Creel, García-Cuéllar, Aiza y Enríquez advised Delivery Technologies, S. de R.L. de C.V. (Cornershop) with Jorge Montaño, Luis Gerardo García, Omar Zúñiga, Gerardo Zimbrón, Aleine Obregón and Eduardo Brandt.

In Chile, DLA Piper BAZ NLD advised Delivery Technologies, S. de R.L. de C.V. (Cornershop) with Matías Zegers, Felipe Bahamondez, Rodrigo Álvarez, Fernando Araya, Isidora Edwards and Jorge Timmerman.

Involved fees earner: Héctor González Graf – Marván, González Graf y González Larrazolo; Jorge Montaño Valdés – Creel, García-Cuéllar, Aiza y Enriquez SC; Gerardo Zimbrón – Creel, García-Cuéllar, Aiza y Enriquez SC; Aleine Obregón Natera – Creel, García-Cuéllar, Aiza y Enriquez SC; Luis Gerardo García Santos Coy – Creel, García-Cuéllar, Aiza y Enriquez SC; Omar Zúñiga Arroyo – Creel, García-Cuéllar, Aiza y Enriquez SC; Eduardo Brandt – Creel, García-Cuéllar, Aiza y Enriquez SC; Arnaldo Gorziglia C. – Arteaga Gorziglia & Cia; María Francisca Danoun – Arteaga Gorziglia & Cia; Maria Magdalena Fabres – Arteaga Gorziglia & Cia; Gustavo Marambio C. – Arteaga Gorziglia & Cia; Andrés Ossandón – Arteaga Gorziglia & Cia; Matías Zegers – DLA BAZ – Bahamondez, Alvarez & Zegers; Felipe Bahamondez – DLA BAZ – Bahamondez, Alvarez & Zegers; Fernando Araya J. – DLA BAZ – Bahamondez, Alvarez & Zegers; Jorge Timmerman – DLA BAZ – Bahamondez, Alvarez & Zegers; Isidora Edwards – DLA BAZ – Bahamondez, Alvarez & Zegers; Rodrigo Álvarez – DLA BAZ – Bahamondez, Alvarez & Zegers; Daniel Green – Gunderson Dettmer; Bradley Krack – Gunderson Dettmer; Robin Stenerson – Gunderson Dettmer; Valerie Lau – Gunderson Dettmer; Matthew Weber – Gunderson Dettmer; Michael Richman – Gunderson Dettmer; Laurel Fedder – Gunderson Dettmer; Kelly Trimble – Gunderson Dettmer; Olga Zolotnik – Gunderson Dettmer; Mike Krigbaum – Morrison Foerster; Jae Yoo – Morrison Foerster;

Law Firms: Marván, González Graf y González Larrazolo; Creel, García-Cuéllar, Aiza y Enriquez SC; Arteaga Gorziglia & Cia; DLA BAZ – Bahamondez, Alvarez & Zegers; Gunderson Dettmer; Morrison Foerster;

Clients: Walmart; Delivery Technologies SpA;

Author: Ambrogio Visconti