German delivery hero Will be the next majority shareholder of Glovo Contract to acquire additional 39.4% stake Already owns 44% of Spanish distribution startups.
We learned about the transaction during the holidays but are exempt if we miss the news when it breaks — the transaction announcement After 11:00 pm CET on December 31st bothersome Of a Spanish reporter. “If they don’t consider delivery personnel [why would they have any] For the press? Confidencial Michael McLaughlin Ironed On Twitter.
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But don’t get in the way inside baseball. This deal is interesting news from many perspectives. This morning, we’ll delve into many of them, including the current pace of on-demand startup integration, the power of geographic expansion in both companies’ markets, and why Glovo wasn’t exposed as a former target.
Delivery Hero will call investors next week about a deal, which was kind Drop a short presentation In a transaction, we have extra ammo to play. Let’s get in!
An important historical background to the Delivery Hero-Glovo deal is DoorDash’s recent agreement. Buy food delivery company Wolt for € 7 billion, Or about $ 8.1 billion. Wolt is a Finnish company with a wide geographical footprint. At the time of the deal with DoorDash, TechCrunch wrote that Wolt “has more than 4,000 employees in 23 countries.”
Glovo is also active in many markets and is a particularly accomplished achievement, at least in part, thanks to the acquisition. The company purchased the brand from Delivery Hero in 2021, among all the companies in Spain. Acquired brand from new parent company for € 170 million.. But that wasn’t the end of Glovo’s 2021 deal.
Why Delivery Hero is acquiring a majority stake in Spanish delivery company Glovo – TechCrunch Source link Why Delivery Hero is acquiring a majority stake in Spanish delivery company Glovo – TechCrunch