This transaction expands the mobility application strategy as an intermediary in the purchase and delivery of supermarkets.
3 min read
- The grocery shipping company will continue to operate under its current leadership and report to a majority-held Uber board of directors.
- Approval by Cofece was granted in all markets outside of Mexico after the contract was signed.
Now you can market through Uber. The Federal Commission for Economic Competition (Cofece) approved the majority takeover of Cornershop Mexico by About.
This transaction expands the mobility application strategy as an intermediary in the purchase and delivery of supermarkets. The resolution came after months of analysis by the Commission.
“Uber and Cornershop are committed to promoting delivery services that support retailers and local communities. This is even more important in uncertain scenarios such as we are experiencing today. We recognize the professionalism of Cofece and its employees in thoroughly analyzing the A transaction that will benefit Mexican consumers and further strengthen the innovation and entrepreneurship ecosystem in the country, “said Eduardo Donnelly, CEO of Uber eats for Latin America.
Cornershop México will continue to operate independently until the acquisition is complete. Once the investment is complete, the grocery shipping company will continue operating under its current leadership and report to a board of directors that is majority owned by Uber.
Image: Cornershopmx via Facebook.
In October 2019, Uber announced an agreement to acquire a majority stake in Cornershop, a Chilean application for online shopping. Approval by Cofece took place after the agreement was concluded in all markets outside of Mexico and after approval by the Chilean competition authority in July of this year.
Now, consumers in Mexico and other cities in Latin America, Canada and the US can purchase groceries from Cornershop through the Uber and Uber Eats platforms.
“We are already working with Uber in several other countries to give consumers access to a wide variety of products, large supermarkets and local specialty stores,” said Oskar Hjertonsson, founder and CEO of Cornershop.