Delivery Apps: Glovo Has a New Owner

In a transaction valued at around $272 million, German company Delivery Hero acquired Glovo's operations in eight Latin American countries, including Costa Rica, Honduras, Guatemala, Panama and the Dominican Republic.

Wednesday, September 16, 2020

Delivery Hero strengthens its position in Latin America, adding Peru, Ecuador, Costa Rica, Honduras and Guatemala to its existing presence, and further expanding its existing operations in Argentina, Panama and the Dominican Republic, the German business group reported.

You may be interested in "Geomarketing and decision making"

From the Delivery Hero release:

Berlin, September 16, 2020. Delivery Hero SE ("Delivery Hero"), the world's leading local delivery platform, announced today that it was entering into an agreement with Glovo, an emerging on-demand delivery company, to acquire its Latin American operations. for up to 230 million euros, including a 60-million-euro performance-based profit. The transaction is expected to close in the coming weeks, subject to compliance with conditions precedent and regulatory approvals.

The transaction will cover all Latin American countries in which Glovo operates, including Argentina, Peru, Ecuador, Panama, Costa Rica, Honduras, Guatemala and the Dominican Republic. In addition to these countries, Delivery Hero already has operations in Argentina, Panama, and the Dominican Republic, and newly acquired assets in these markets will be transferred to Delivery Hero at closing. With the acquisition of Glovo's operations in Peru, Ecuador, Costa Rica, Honduras and Guatemala, Delivery Hero adds five new countries to its Latin American presence. Glovo will continue to operate the business in these countries until March 2021.

Niklas Östberg, CEO and co-founder of Delivery Hero, said: "Latin America is a region with exceptional growth potential for online delivery. The acquisition of Glovo's local operations gives us the opportunity to increase our efforts to drive innovation, continuously improve the customer experience, and support local suppliers in the region. We have worked closely with Glovo for many years and are proud to incorporate their Latin American services into our global network."



More on this topic

Collaborative Economy: New Investments Planned

March 2021

After Delivery Hero bought the digital home delivery platform Glovo in 2020, the company has informed that in order to compete in the Guatemalan market it intends to execute an ambitious investment plan.

In September last year, after a transaction worth around $272 million was agreed, the German company Delivery Hero acquired Glovo's operations in eight Latin American countries, including Costa Rica, Honduras, Guatemala, Panama and the Dominican Republic.

Delivery: New Competitor in El Salvador

March 2021

PedidosYa, a digital platform for home delivery of different types of products, began operating in the local market and will initially cover customers in the Metropolitan Area of San Salvador.

The platform that began to compete days ago, offers the delivery service of products that are classified in the categories of restaurants, markets, beverages, stores and errands.

Collaborative Economy: New Competitor in Costa Rica

October 2019

After investing $2 million, the company Rappi, dedicated to the service of food delivery, orders and cash transport, began operations in the country.

This type of service supply is increasing in the Costa Rican market, as Rappi will have to compete with Uber Esats, Glovo and Hugo.

El Salvador: Courier Company Urbano Sold

August 2015

The multinational Abraaj Group has acquired the majority stake in the courier and logistics company Urbano which has operations in El Salvador, Peru and Ecuador.

From a press release by The Abraaj Group:

Established in 1996, URBANO is the market leader for document delivery services in Peru, Ecuador and El Salvador

 close (x)

Receive more news about Logistics

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jul 23)
Brent Crude Oil
73.36
Coffee "C"
194.95
Gold
1,802
Silver
25.225