Glovo announces several acquisitions of Delivery Hero in Central and Eastern Europe

The Spanish on-demand delivery platform will acquire multiple of Delivery Hero’s group companies in a series of separate acquisition deals

Glovo strengthens its footprint in Central and Eastern Europe, further expanding its operations in Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro, Romania, and Serbia

LONDON, May 26, 2021 — Glovo, one of the world’s leading multi-category delivery players, today announced a series of separate acquisition deals with Delivery Hero, one of the world’s leading local delivery platforms, to acquire some of its group companies in Central and Eastern Europe (CEE).

Glovo will acquire the foodpanda brand in Romania and Bulgaria, the Donesi brand in Serbia, Montenegro, Bosnia and Herzegovina, and Pauza in Croatia in deals worth a total value of €170 million.

The transactions in Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro and Serbia are expected to close within the next few weeks, subject to fulfilment of the conditions precedent and relevant regulatory approvals, while Romania will be completed following approval from the competition authority.

In a separate deal, Glovo recently announced that it has also reached an agreement to acquire Ehrana, a local delivery company in Slovenia, for an undisclosed fee. The transaction is expected to close in the next few months and the company is now working closely with Ehrana to define the transition strategy for users, partners and couriers.

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.”

About Glovo

Glovo is a pioneering multi-category delivery app and one of the world’s leading delivery platforms. Founded in Barcelona in 2015, it operates in South West Europe, Eastern Europe and Sub-Saharan Africa. The app connects users with restaurants, grocery chains, pharmacies and retail stores, and also includes an "anything" category that allows users to order whatever they want.

For more information about Glovo, please visit: http://about.glovo.com/en/

About Delivery Hero

Delivery Hero is the world’s leading local delivery platform, operating its service in more than 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