Uber Technologies Inc. (NYSE: UBER) announced today that it will acquire Cornershop, a grocery delivery platform based in Santiago, Chile.
The deal is expected to close early next year subject to regulatory approval. Plans call for Cornershop to operate under its current leadership, but Uber will have majority representation on its board.
“In 2015 we started Cornershop with primarily the Latin American market in mind and we couldn’t be more excited to work with Uber to help us take that mission much further,” said Oskar Hjertonsson, founder and CEO of Cornershop.
In addition to Chile, Cornershop also has operations in Mexico, Peru and Toronto.