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

Wednesday, September 16, 2020 - 5:02pm

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

Key Points: 
  • 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
    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.
  • 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.
  • Niklas stberg, CEO and Co-Founder of Delivery Hero, said: "Latin America is a region with exceptional growth potential for online delivery.