“By the 2018 holiday season, we will be servicing every major market across the country with same-day delivery, and Shipt’s service-oriented approach aligns well with Target’s commitment to delivering an exceptional shopping experience for our guests,” said John Mulligan, executive vice president and chief operating officer for Target.
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Shipt is a rapidly growing membership-based grocery marketplace and same-day delivery platform. It is currently utilized by Meijer in the Southwest Ohio region. Through Shipt’s app, members are connected to local, reliable shoppers who help facilitate a quality delivery experience that is personalized, efficient and convenient.
Shipt will be a wholly owned Target subsidiary, and will continue to run its business independently.
The transaction is subject to customary closing conditions and is expected to close prior to the end of calendar year 2017. This all-cash acquisition will be immaterial to Target’s near-term financial results.
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