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Delivery Hero acquires the LATAM business of Glovo



Delivery Hero said on Wednesday (September 16th) that it had acquired another delivery service GlovoLatin American operations for approximately $ 272 million.

Delivery Hero only focuses on food. Glovo says he will deliver just about everything.

Delivery Hero, based in Germany, already operates in Argentina, Panama and the countries of the Dominican Republic also served by Glovo and adds Peru, Ecuador, Costa Rica, Honduras and Guatemala through the deal, according to Wednesday’s press release. Glovo will continue to operate the business in the five countries that are new to Delivery Hero until March 2021.

Niklas Stberg, CEO and co-founder of Delivery Hero, said in a prepared statement: “Latin America is a region with exceptional growth potential for online delivery. Acquiring Glovos’ local operations gives us the opportunity to redouble our efforts to stimulate innovation and continuously improve our customer experience and support to local suppliers in the region.We have worked closely with Glovo for many years and are proud to integrate their Latin American services into our global network. “

Oscar Pierre, CEO of Glovo, said in a prepared statement: “We believe it is important to focus on the key markets where we can develop a long-term sustainable business and continue to provide our unique multi-category offering. This transaction will allow us to strengthen our presence in markets where we are already very strong, while allowing us to invest in new markets where we see enormous potential for growth and significant opportunities. that Delivery Hero is the best possible partner to take the business we’ve built in Latin America to the next level. They have what it takes to continue and become the main player in the region. “

Berlin-based Delivery Hero has 27,000 employees and processes over four million orders per day, according to the company.

Glovo is based in Barcelona, ​​Spain, and claims it has 1,700 employees, 50,000 active couriers and 7.3 million active customers.



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