Delivery Hero adjusts its global footprint as Glovo takes over certain operations in the Balkan region
- Delivery Hero and Glovo have entered into an agreement regarding Glovo acquiring Delivery Hero’s operations in Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro, Romania, and Serbia
- Glovo will acquire the local businesses for a transaction value of approximately EUR 170 million
- The transaction allows Delivery Hero to further optimize its operational footprint and invest in other core markets and verticals which are key to its strategy
Berlin, 26 May 2021 – Delivery Hero SE (“Delivery Hero”), the world’s leading local delivery platform, today announced that Glovo will acquire Delivery Hero’s operations in the Balkan region. Glovo will take over Delivery Hero’s businesses in Bosnia Herzegovina, Bulgaria, Montenegro, Romania and Serbia, and acquire certain assets of Delivery Hero’s Croatian operations.
Present in all six countries and already holding a very strong position, Glovo is well-placed to continue investing into improved customer experience, long-term and sustainable operations, and further build-out the businesses locally. The aforementioned countries will be rebranded to Glovo’s company brand following a transition period. Delivery Hero will keep strengthening its global presence and focus on delivering an amazing experience to its c. 50 global markets.
The transactions involving Bosnia Herzegovina, Bulgaria, Croatia, Montenegro, and Serbia are expected to close within the next few weeks, subject to the fulfilment of the conditions precedent. Romania is expected to close by Q1 2022, subject to the fulfillment of the conditions precedent and relevant regulatory approvals.
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.Niklas Östberg, CEO and Co-Founder of Delivery Hero
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.Oscar Pierre, CEO of Glovo
ABOUT DELIVERY HERO
Delivery Hero is the world’s leading local delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. The company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 10-15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. For more information, please visit www.deliveryhero.com
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