Glovo has just been absorbed by Delivery Hero. The Spanish company specialising in delivering purchases and orders from gastronomic establishments was partially taken over by the German giant, but now this process has been crowned with the acquisition of almost 100 percent of it shares. From the users’ point of view, nothing should change for now.
94 percent shares in Glovo
Delivery Hero announced the closure of the transaction, which involves taking up about 94 percent shares in Glovo. The German giant promises that it will inform about the details of the transaction in the coming weeks, but it is already boasting that thanks to the acquisition of users, Glovo will serve 2.2 billion people in 74 countries.
“We are delighted to welcome Glovo to the Delivery Hero family. We have known, like and trusted each other for years. Our teams share the same vision, yet we can still learn a lot from each other by sharing knowledge and exploring technological and operational synergies” , ‘said Niklas Östberg, President and Co-Founder of Delivery Hero.
The German company points out that thenow former Spanish firm has a strong position in Europe (especially South), as well as in the Middle East and Africa, thus complementing the global reach of Delivery Hero. Importantly, Glovo will continue to work with the existing brand and on its own platform. The company’s management board will not change either – it will continue to be led by its founders – Oscar Pierre and Sacha Michaud.
Joining forces with Delivery Hero will accelerate our growth and development of our product. We are very happy that we can finally start cooperation and share knowledge and technology with other brands in the Group – said Oscar Pierre, president and co-founder of Glovo.
Took over PizzaPortal 10 years ago
Already back in 2012, Delivery Hero took over the Polish PizzaPortal, in 2016 the Asian company Foodpanda, and in 2020 InstaShop – a significant player in the Middle East. In 2019, PizzaPortal was handed over to Glovo and the following year it was extinguished – existing users were invited to Glovo. In 2020, Delivery Hero took over the entire South American business of the same firm.