GRBJ: Target acquiring Meijer partner Shipt for $500M

Target buys Shipt

Another major retailer is entering the delivery market.

Minneapolis-based Target said today it entered an agreement to acquire the retail delivery company Shipt for $500 million in cash.

Shipt has gained traction in Michigan since it partnered with Walker-based Meijer.

Meijer launched its Shipt-based delivery service in Detroit in 2016. The Business Journal previously reported Meijer was on track to make one-million deliveries by the end of 2017.

Meijer said Target’s acquisition of Shipt will not negatively impact their operations.

“Shipt has been an important partner in helping Meijer build its Meijer Home Delivery service,” said Frank Guglielmi, senior director of communications, Meijer. “The changes in Shipt’s ownership will not have an effect on Meijer customers, as we continue to evolve and enhance our home-delivery offering.”

The acquisition aims to expand Target’s digital capabilities by bringing same-day delivery to customers at around half of all stores by early 2018.

You can read the entire article at the website of our partner, the Grand Rapids Business Journal, or pick up this week's edition of the Business Journal on your newsstand.

© 2017 Grand Rapids Business Journal


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