- 28 May 2021
- Transport / Logistics Services
Same-day delivery giant Glovo has bought a number of business segments from Delivery Hero, namely its interests in Central and Eastern Europe.
The brands that Glovo have bought are the foodpanda brand in Bulgaria and Romania, the Donesi brand in Bosnia, Montenegro and Serbia as well as Pauza in Croatia. This deal is worth €170 million and will be completed upon regulatory approval.
At the same time, Glovo has recently agreed to buy out delivery company Ehrana in Slovenia for an undisclosed sum. While regulatory approval is being sought, an integration plan is being discussed with stakeholders.
Oscar Pierre, CEO and Co-founder of Glovo, said: “It’s always been central to our long-term strategy to focus on markets where we see clear opportunities to lead and where we can build a sustainable business. Central and Eastern Europe is a very important part of that plan. The region has really embraced on-demand delivery platforms and we’re very excited to be strengthening our presence and increasing our footprint in countries that continue to show enormous potential for growth.”
Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “Delivery Hero has built a clear leading business in the Balkan region in the last couple of years. However, with a lot of operational priorities on our plate, we believe Glovo would be better positioned to continue building an amazing experience for our customers in this region.”