Delivery Hero acquires Glovo and sells stake in major courier company Rappi
Wpis dostępny jest także w języku: polski
Early in January 2022, the German Delivery Hero firm announced that it had inked a deal to buy a 39.4% share in the Spanish delivery app Glovo. Following the deferral of the Glovo purchase, in less than two weeks, the business announced the sale of a $150m share in Colombian courier Rappi.
Early in January 2022, the German Delivery Hero firm revealed that it had inked a deal to buy a 39.4% share in the Spanish delivery service Glovo. The parties to the agreement anticipate that the purchase transaction will be completed in Q2 2022, subject to regulatory clearances. It should be noted that Delivery Hero is a Glovo shareholder, owning around 44% of the company’s stock. Glovo will be valued at €2.3bn after being fully diluted and debt-free, before minor changes, according to the business. Since both firms are technological leaders, the merging of businesses can help them produce effective and lucrative solutions, notably in the field of delivery logistics, the acquisition might have a significant impact on the delivery and q-commerce sector in Europe and throughout the globe.
Following the Glovo purchase, in less than two weeks, the business announced the sale of a $150m share in Colombian courier Rappi. Delivery Hero does not, however, quit the full ownership structure of this company, keeping 7.9%. shares worth $400m. Rappi was acquired by Delivery Hero as part of Round B, when the South American start-up was valued at roughly $400m. Rappi’s financial performance reflects the company’s overall phenomenal growth and successful business style. Delivery Hero, on the other hand, plans to maintain a rigorous capital allocation strategy and focus on initiatives that are in line with the company’s strategic goals. The remaining Rappi shares will be monetized at a reasonable price over time, according to Delivery Hero
Rappi is a Colombian company headquartered in Bogota that operates in more than 200 locations, including Mexico, Peru, Ecuador, Brazil, Argentina, and Uruguay. It is one of the most well-known companies in the industry for courier-based rapid deliveries (including groceries). Platform couriers, on the other hand, provide a wider range of services, including assisting customers with tasks such as taking the dog for a walk or withdrawing money from an ATM.
Delivery Hero, one of the world’s largest delivery platforms, is already active in more than 50 countries. The Frankfurt Stock Exchange-listed firm is focusing heavily on the q-commerce industry, delivering courier deliveries in as little as 10-15 minutes.
The q-commerce market is growing not only in Poland but also in other countries thanks to the increase in demand for fast deliveries during the Covid-19 pandemic. On the Polish market, there is an instant delivery startup, Lisek, which offers its services in Warsaw and Cracow. Other delivery companies such as Zabka Jush, Uber Eats, Everli, Wolt, or Jokr are also competing, as well as the Glovo chain, which has not only entered the q-commerce market but also plans to enable customers to order alcoholic products.
According to PMR, the e-commerce market in Poland was worth PLN 88.7bn (€19.4bn) in 2020, growing by 45.1% compared with 2019, according to our estimates. For the period until 2026, our baseline scenario is that the market will continue to expand at a double-digit pace through 2023, and that it will grow by 7-9% per annum in the three years after that, expanding by a total of 89% over this period.