Colombia based Rappi made its largest acquisition to date by acquiring Box Delivery.
Box offers last-mile delivery services to restaurants and retailers and makes an average of 1 million monthly deliveries. In 2022, Box posted $39.5M in sales.
The Brazilian mall operator Aliansce Sonae will support Rappi’s acquisition of Box Delivery as a new partner. This addition will give Rappi strategic advantages in the Brazilian market.
The deal aims to strengthen Rappi’s delivery operations and enable it to compete better with iFood.The acquisition will unite Rappi’s delivery services with Box Delivery, allowing the company to meet the growing restaurant demand.
“We will likely become one of the largest companies focused on serving this delivery segment, ” said Sebastian Mejia, Co-founder and President of Rappi.
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