Wal-Mart Stores Inc (WMT.N) said on Tuesday,October 3, said it has acquired Parcel Inc, a New York-based last-mile delivery startup, as the retailer seeks to better compete with e-commerce giant Amazon.com Inc (AMZN.O).
Parcel, a 24/7 operation that delivers packages the same-day, overnight and in scheduled two-hour windows, was bought for an undisclosed amount “smaller than previous acquisitions” Wal-Mart made this year, the discount retailer said.
“We plan to leverage Parcel for last mile delivery to customers in New York City – including same-day delivery – for both general merchandise as well as fresh and frozen groceries from Walmart and Jet,” Wal-Mart said in a blog post. bit.ly/2wv4iV7
Wal-Mart said in June it would buy online men’s fashion retailer Bonobos Inc for $310 million, on the same day Amazon unveiled a $13.7 billion deal to buy upmarket grocer Whole Foods Market Inc.
The company also bought internet retailer Jet.com for about $3 billion last year in the largest-ever deal for an e-commerce startup.
A Wal-Mart representative declined to disclose the Parcel deal value. Parcel was not immediately available for comment outside regular business hours.
Recode reported citing a source that the acquisition price was less than $10 million, Reuters reports.
