Mega deal in the booming delivery services sector. The Turkish provider Getir has bought up the German service Gorillas. Around 1.2 billion US dollars are said to have flowed in the end.
Getir buys Gorillas
Food delivery services, such as Getir and Gorillas, have boomed in the wake of the COVID-19 pandemic. They advertise delivering fresh vegetables, cold drinks, drugstore items and more directly to your door in just minutes.
Although this only works in major cities like Berlin, Bremen, Darmstadt, Dresden or Munich so far, it is definitely a practical thing to do. Within the industry, there has now been a billion-dollar deal: the Turkish provider Getir, which is also active in Germany, has bought up its competitor Gorillas. According to the Financial Times, 1.2 billion U.S. dollars are said to have flowed in the process.
Although the valuations of both companies have fallen somewhat in the past year, they are still worth a combined total of around 10 billion US dollars.
However, the internal business policies of these food delivery services are not free from criticism. A collective of Gorilas employees has repeatedly called for a strike, for example via Twitter. This was also the case in June 2016, when employees blocked a warehouse in Berlin due to layoffs.
Nazim Salur, founder of Getir, is certain, however, according to a report in the Financial Times, that the market for food delivery services will continue to grow: “Getir will lead this category, which they founded seven years ago.”