LatamList – Delivery Hero, the world’s leading local delivery platform, acquired Glovo‘s full operations in Latin America. The transaction will be finalized in the next few weeks, with Delivery Hero paying up to $270M.
Delivery Hero currently operates in 44 countries worldwide, delivering groceries in over 600 cities. Glovo is an on-demand delivery platform from Spain with more than 2.5 million active monthly users worldwide.
“Latin America is a region with exceptional growth potential for online delivery. Acquiring Glovo’s local operations gives us the opportunity to double down on our efforts to drive innovation, continuously improve customer experience, and support local vendors in the region,” said Niklas Ostberg, CEO and co-founder of Delivery Hero.
The acquisition will allow Delivery Hero to expand into Peru, Ecuador, Costa Rica, Honduras, and Guatemala. The company will also strengthen its presence in Argentina, Panama, and the Dominican Republic through the transaction.
“We feel that it’s important to focus on key markets where we can build long-term sustainable business and continue to provide our unique and multi-category offering to our customers,” said Oscar Pierre, CEO of Glovo.
Read more on the press release.