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Walmart Acquires NYC Same-day Delivery Company

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Wal-Mart Stores Inc. (WMT) Tuesday said it acquired Parcel, a New York City-based same-day delivery service company.

Wal-Mart did not disclose the financial details of deal, however, a Recode report indicates that the deal was closed at less than $10 million.

Wal-Mart plans to use Parcel, which provides same-day, overnight and in scheduled two-hour windows delivery service, to deliver groceries, frozen products and other perishables to New York City customers from Walmart and Jet.com.

Parcel, which has partnerships with a number of meal kit, grocery and e-commerce companies, will also continue to service its current clients.

Nate Faust, senior vice president, Walmart U.S. eCommerce Supply Chain, said, "Delivery is increasingly one of the most important elements for today's online shoppers, as demands for speed, flexibility, and reliability continue to grow. That's why my team spends a lot of time thinking about ways we can make deliveries faster and more convenient for customers. Parcel is a proven leader in e-commerce package delivery, including taking fresh, frozen and perishable food, the last mile - that is, the last step in the shipping process as products make their way from a fulfillment center to your door."

by RTT Staff Writer

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