Glovo makes 2 acquisitions in on-demand delivery space

European on-demand delivery company Glovo has made two major acquisitions – Spain based Lola Market and Portugal based Mercadao.

Between the two newly acquired firms, they have a portfolio of more than 30 partners in both countries. According to Glovo the acquisitions complement its growth strategy and strengthen its Q-Commerce division following the recent deal to buy Delivery Hero’s businesses in Eastern Europe and the €100 million partnership with Swiss-based real estate firm, Stoneweg. 

Oscar Pierre, CEO and Co-founder, Glovo, says: “We see huge potential in the on-demand groceries marketplace and both companies are strong local players in their respective markets, and further strengthen our Q-Commerce offering.”

“With Lola Market and Mercadão onboard, we can build stronger partnerships with retailers, offer our users big-basket purchases and provide a more complete service.”

“These acquisitions represent a significant step forward for us, as we’re now able to cover all of the main purchasing considerations for groceries customers, making Glovo a one stop shop for e-groceries.”

Gonçalo Soares da Costa, CEO at Mercadão, says: “Glovo has a very ambitious vision for the future of e-groceries in Europe and it’s one of which we are excited to be a part.”

“We believe that the combined experience and talent of both Mercadão’s and Lola Market’s teams, coupled with Glovo’s international reach, will allow us to offer a truly unrivalled delivery service to customers. It’s a challenge we look forward to facing and one we are undertaking with enthusiasm and determination.”

Luis Perez del Val Sheriff, CEO at Lola Market, comments: “Our expertise in planned purchases and big basket deliveries, as well as our loyal user base and cutting edge technology, make for a very attractive proposition.”

“We’re confident that together we can continue to make ordering food more accessible and convenient for users than ever before.”