DGAP-News: Delivery Hero strengthens its global footprint and acquires Glovo's operations in Latin America

Delivery Hero strengthens its global footprint and acquires Glovo's operations in Latin America

• Delivery Hero acquires Glovo's full operations in Latin America for up to EUR 230 million
• Delivery Hero strengthens its position in Latin America, adding Peru, Ecuador, Costa Rica, Honduras and Guatemala to its current footprint, and further expanding its existing operations in Argentina, Panama and the Dominican Republic
• The transaction is expected to close within the next few weeks

Berlin, 16 September 2020 - Delivery Hero SE ("Delivery Hero"), the world's leading local delivery platform, today announced it was entering into an agreement with Glovo, an on-demand delivery start-up, to acquire its operations in Latin America for up to EUR 230 million, including a EUR 60 million performance-based earn-out. The transaction is expected to close within the next few weeks, subject to fulfillment of the conditions precedent and relevant regulatory approvals.

The transaction will cover all of the Latin American countries in which Glovo operates, including Argentina, Peru, Ecuador, Panama, Costa Rica, Honduras, Guatemala and the Dominican Republic. Out of these countries, Delivery Hero is already present in Argentina, Panama and the Dominican Republic, and the 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 footprint. 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. 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. We have been working closely with Glovo for many years, and are proud to incorporate their Latin American services into our global network."

Oscar Pierre, CEO of Glovo, said: "We feel that it's important to focus on key markets where we can build a long-term sustainable business and continue to provide our unique multi-category offering to our customers. This deal will allow us to strengthen our presence in those markets where we are already very strong, while also allowing us to invest in new markets where we see huge growth potential and opportunity. We truly believe that Delivery Hero is the best possible partner to take the business we've built in Latin America to the next level. They have everything it takes to go on and become the leading player in the region."

ABOUT DELIVERY HERO

Delivery Hero has a strong presence in 39 out of 44 countries in which it is operating across Europe, Latin America, Asia, the Middle East and North Africa. Delivery Hero also operates its own delivery service primarily in over 600 cities around the globe. Headquartered in Berlin, Germany, the company group has more than 27,000 employees. Delivery Hero is listed on the Frankfurt stock exchange and became part of the leading index DAX (Deutscher Aktienindex) in 2020. For more information, please visit www.deliveryhero.com

ABOUT GLOVO

Glovo is an on-demand delivery platform that allows you to buy, collect and send any product or item within your city. Born in Barcelona, the company operates in over 650 cities in 22 countries across EEMEA, LATAM and Sub-Saharan Africa. Glovo has more than 2.5 million monthly active users, 50,000 active couriers and over 50,000 associated partners worldwide. For more information about Glovo, please visit: http://about.glovoapp.com/en/

MEDIA CONTACT

Melanie Bochmann

Senior Manager, Strategic Communications
[email protected]

INVESTOR RELATIONS CONTACT

Daniel Fard-Yazdani

VP, Head of Investor Relations
[email protected]

DISCLAIMER

The press release contains forward looking statements, other estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ("Forward-looking Statements"). These Forward-looking Statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "aims", "plans", "predicts", "may", "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These Forward-looking Statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding Delivery Hero SE's intentions, beliefs or current expectations concerning, among other things, Delivery Hero SE's prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking Statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of Delivery Hero SE's prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on Delivery Hero SE may differ materially from those made in or suggested by the Forward-looking Statements contained in this presentation or past performance. In addition, even if the development of Delivery Hero SE's prospects, growth, strategies and the industry in which it operates are consistent with the Forward-looking Statements contained in this presentation or past performance, those developments may not be indicative of Delivery Hero SE's results, liquidity or financial position or of results or developments in subsequent periods not covered by this presentation. Any Forward-Looking Statements only speak as at the date of this press release is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any Forward-looking Statements and assumptions. No liability whatsoever is accepted by Delivery Hero SE in respect of the achievement of such Forward-looking Statements and assumptions.