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Walmart Purchases Delivery Business

Walmart has purchased Parcel, a delivery logistics startup that focuses on overnight and same-day last-mile delivery, Reuters reports.

The Parcel purchase is Walmart’s latest acquisition, following its purchase of apparel company Bonobos in June for $310 million and e-commerce retailer Jet.com in August 2016 for $3 billion. According to Reuters, Walmart purchased Parcel for an undisclosed sum that is thought to be “smaller than previous acquisitions” Walmart has made.

In a blog post, Walmart says “Parcel uses routing algorithms, a fleet of leased vehicles and a professional, employee-based workforce to quickly sort, load and deliver packages” to customers. Walmart says it plans to use Parcel’s delivery capabilities for last-mile deliveries to customers within New York City for general merchandise and grocery shipments.

Nate Faust, senior vice president of Walmart’s U.S. e-commerce supply chain, says Parcel will help Walmart meet customers’ growing desire for same-day deliveries.

“Delivery is increasingly one of the most important elements for today’s online shoppers, as demands for speed, flexibility and reliability continue to grow,” he says in a separate blog post. “Customers’ expectations around delivery and what is possible have changed significantly in the past couple of years. Whatever they need and however they’d like it, we aim to provide—including the ability to offer last-minute ordering with same-day delivery service.”

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